Sunday, 11 June 2023

Cement sector

Reliance pet coke prices (ex Jamnagar) have further declined by | 1409/t (MoM) to | 13230/t for June 2023 (down 34% YoY). The decline is in line with recent global pet coke prices (~135-140 US $/t) On an average, fuel cost per Kcal in Q4FY23 declined from Rs. 2.5 to Rs. 2.3 Kcal (QoQ). We expect costs to further soften to Rs. 1.9-2/Kcal in H2FY24. We expect cost tailwinds of Rs. 200-250/t over the next two quarters (provided the spot prices sustain at the current level)
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India Daybook – Stocks in News

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