OfBusiness Cement Dailies | 31st October 2023

Price

• No change in Cement prices as of today, and the revision is scheduled for November bookings.
• AAC Block ex Panipat: Rs 2,500/cubic meter AAC Block ex Nashik: Rs 3,300/cubic meter GST will be additional.

Demand and Supply

• The supply of Cement in the non-trade market for the central region is delayed by thirty-six hours as the focus is more on the trade market due to month-end. Demand is frequent in the central and northern regions, while the southern region’s demand shows signs of firmness.

News

• The Meghalaya High Court has decided to explore a broader investigation into potential connections between the State government and a Cement factory in East Jaintia Hills. This decision follows a public interest litigation (PIL) filed by Shailendra Kumar Sharma, who revealed concerning information about the Cement factory’s activities, suggesting they exceeded approved limits. The court scheduled the next hearing for November 7, 2023, to delve into the matter further and determine whether the State government is involved in any wrongdoing. All involved parties have been directed to provide necessary information.
• Union Minister Nitin Gadkari has announced the completion of the Kaladan Multi-Modal Transit Transport Project (KMTTP) linking Mizoram to Myanmar, with a cost of Rs 1,132 crore. He stressed the significance of infrastructure for development, unveiling a Rs 20,000-crore road project connecting Mizoram with Nagaland, Manipur, and Myanmar. Additional projects include a 373-km road in Mizoram and a bypass road for Aizawl, promoting economic growth and reducing traffic congestion. Delays in the Silchar to Vairengte-Sairang road were attributed to land disputes. Gadkari’s initiatives aim to boost economic growth and connectivity in Northeast India.

OFB’s Opinion

• Today is the last day to book a bulk order at prevailing prices. In the month of November, rates are expected to increase by up to Rs 20, depending on location and serviceability.