Cement price will rise as cost of coal is up: N Srinivasan, MD, India Cements

Chennai: Cement of India Limited said on Wednesday that the price of cement will rise as all cement plants face "cost pressures" and the industry suffers the massive impact of rising coal prices. "There was an increase in the cost of (coal) ... the price of coal that we were getting was around $ 70-80 per ton and it went up to $ 105, from there it went up to $ 135. Now, said vice-chairman and managing director of the cement-making company N Srinivasan. In this sense, he explained, the company was successful because it had coal of about four tons that could produce 27 thousand tons of cement slag. Cements price increase as the coal price increased "We have four months out of stock, but after that, we are seeing an increase in coal costs. This will apply to everyone (all cement manufacturers), not just us, Cement India," Srinivasan, also managing director of the company, told reporters. Noting that the rising cost of coal affects the cost of power generation and the cost of fuel in the furnaces, he said. "If we take the cement industry, some people have a week's inventory, (but) we have a four-month inventory. Companies with a good inventory can expect consistent production in the coming months," he said. "But today, if you go out and buy coal, it will really affect (your) production cost. My estimate is that cement prices have already gone up, and the increased cost of production can be passed on (to customers) by a manufacturer. intelligent ". In response to a question on whether he would expect pressure from governments to increase cement prices, he said: “TANCEM (Tamil Nadu State Cement Company) has raised the price and all I know is that TANCEM has realized the increased cost and has increased the price. " In another consultation, he said: "I am alive because I have coal that was bought at a lower cost. And when the coal sells for 250 dollars, I will have to increase the price by 30 rupees and 40 rupees per bag easily." he said... Also, Read - Top 10 most beautiful houses in the world 2021