- Producers’ price hikes lead to muted buying interest, weak offtake
- Persistent rainfall, festive disruptions weigh on market activity
Cement manufacturers attempted price hikes of upto INR 20/bag across select key Indian markets in the week ended 25 September 2026. Following the attempts, trade-level Portland Pozzolana Cement (PPC) prices increased across several major markets. However, Raipur prices declined by INR 3/bag, while Chennai and Bangalore remained stable w-o-w, according to BigMint’s assessment as of 25 September 2026.
Weak trade-segment off-take amid continued rainfall has weighed on market sentiment across the central, eastern, and southern regions. Rain-related disruptions have restricted construction activity and affected buying interest in several markets. In addition, Ganesh Chaturthi festivities disrupted market activity across parts of the western and southern regions, further limiting demand and dispatches, according to market sources. Manufacturers’ attempts to raise prices are being met with muted buying interest, making sustained increases in price realisation challenging in several markets.
In the non-trade segment, cement prices increased by INR 10-20/bag m-o-m in September, as per some EPC players.
Region-wise market trend
Western region sees selective price increases
In Mumbai, average trade PPC prices increased by INR 2/bag w-o-w, as dealers raised billing prices following an INR 5/bag price hike announced by mills this week. Ahmedabad also recorded an INR 4/bag increase in billing prices, although buying activity remained slow.
Price acceptance among buyers will determine market movement in the coming weeks. Demand remains subdued across western markets, limiting dealers’ ability to fully pass on higher replacement costs.
Eastern region prices rise w-o-w
In Kolkata, average trade prices increased by INR 7/bag w-o-w as dealers raised wholesale prices after market prices reached a low in recent weeks. However, market activity remained under pressure amid persistent rainfall and limited cement movement.
Dealers remained cautious about inventory accumulation, while manufacturers continued to seek higher realisations to offset rising operating costs.
Southern markets show mixed trend
Southern markets recorded the strongest trade-level price increases this week. In Hyderabad, average trade prices rose by INR 8/bag following a INR 15-20/bag price hike announced by a leading cement manufacturer.
However, festive-season restrictions on vehicle movement continued to affect cement dispatches and demand.
In Chennai and Bengaluru, prices remained stable w-o-w. Buying activity remained slow amid the festive period and limited implementation of price hikes announced by mills.
Central region under pressure, prices decline w-o-w
In Raipur, average trade prices declined by INR 3/bag w-o-w amid subdued buying activity and adequate material availability from manufacturers. Higher availability continued to weigh on prices, while persistent rainfall kept buying activity subdued during the week.
Northern market prices rise w-o-w as mills raise prices
In Delhi, major cement producers announced a INR 5/bag price hike in the trade segment. Dealers subsequently raised billing prices, resulting in an increase in average trade prices w-o-w.
However, demand in the trade segment remained weak, limiting the extent of price increases.
Update on projects
The infrastructure and construction sector witnessed a strong order flow, with companies securing projects across transportation, transmission, railways, water infrastructure, buildings, solar and oil and gas.
SCC Infrastructure and Ashoka Buildcon emerged as L1 bidders for canal network and office complex projects, respectively, while Skipper and KPIL won orders worth INR 797 crore and INR 2,025 crore.
RITES revised its railway electrification project cost to INR 154.65 crore, while Ceigall India commissioned an additional 5 MW solar capacity. Dilip Buildcon, MEIL, Hazoor Multi Projects and RVNL also secured major orders, strengthening sector-wide execution visibility.
Outlook
Cement trade prices are expected to remain firm in the near term, supported by recent price hikes initiated by manufacturers across key markets. However, the sustainability of these increases will depend on the pace of monsoon withdrawal, recovery in construction activity, and dealers’ ability to absorb higher replacement costs.
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