Cement prices in North region raised by Rs20 per bag

MG News | June 03, 2022 at 11:33 AM GMT+05:00

0:00

June 03, 2022 (MLN): Amid soaring international coal prices, supply chain concerns on Russia-Ukraine chaos and PKR depreciation, cement manufacturers in the North region have increased cement prices by Rs20/bag, effective from June 02, 2022.

Sharing the aforesaid information on Twitter, Topline Securities said, “The new price in the North region is in the range of Rs890-905/bag, as per channel checks.”

“We expect a similar price hike in the south region soon,” it added.

Pakistan’s cement sector is likely to pay the price of prevailing micro/macro-economic, political, and geopolitical scenarios in lower margins in the fiscal year 2022-23 as the country’s uncertain dynamics will dominate the long-term perspective for the sector.

With the rising momentum of int’l coal prices and inflationary pressure, most of the cement manufacturers have switched towards Afghan coal as it has been offered at ~35-45% discount from Richard Bay Coal.

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