Construction Industry News
After a disappointing second quarter in which margins fell to multi-quarter lows, cement manufacturers will experience some relief as cost pressures ease. Analysts believe a recovery in demand for cement and continued price increases will be critical to earnings growth.
Prices for imported coal have fallen 19 percent in the past month, according to analyst data, after remaining high at $250-350 a ton between March and October. Pet coke prices have risen slightly since mid-October, but analysts say they are still 29 percent lower than average prices in the first quarter.
According to analysts from Motilal Oswal Financial Services, the drop in coal and petcoke prices should result in an average cost reduction of at least Rs 150 per tonne in Q3 FY23.
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