March 04, 2022 (MLN): To absorb the impact of Rupee depreciation and rise in international coal prices, Cement manufacturers in the North region have increased cement prices by Rs10-15/bag, effective from today i.e. March 04, 2022.
Taking to the official Twitter account, Topline Securities said, “The new price in the North region is in the range of Rs760-765/bag.”
As per the latest data, the total cement despatches for 8MFY22 clocked in at 35.77mn tons as against 37.94mn tons in the corresponding period last year, posting a decline of -5.7% YoY due to massive spike in international freight costs, upwards momentum in coal prices, and rise in cost of production which have made Pakistani cement less competitive in the global markets.
In the north region, domestic cement dispatches decreased by 3% YoY to 22.9mn tons in Jul-Feb FY22. Further, exports from the north region declined significantly by 61% YoY to 0.56mn tons vs 1.44mn tons over the same period last year.
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