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News ICRA expects cement demand growth to slow in first quarter

ICRA expects cement demand growth to slow in first quarter

Written by Global Cement staff 28 June 2019
  • Print

India: Credit rating agency ICRA expects that cement demand growth will fall to 7% year-on-year in the first quarter of the 2019 – 2020 financial year from 13% in the previous year. It has blamed this on a slowdown in infrastructure projects due to the general election and resulting labour shortages. However, higher cement prices and lower input costs - including power, fuel and distribution expenses – are forecast to improve profits. Cement consumption is predicted to increase in the third quarter due to housing demand and pickup in infrastructure schemes.

The agency also said that around 18 – 20Mt/yr of cement production capacity would be added in the 2019 – 2020 year. This will be from a variety of integrated and grinding projects. This is below the projected demand growth of 24Mt/yr but overall sector production overcapacity is expected to continue at around 71%.

Last modified on 03 July 2019
Published in Global Cement News
Tagged under
  • India
  • ICRA
  • Forecast
  • demand
  • Production
  • GCW412

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