Indian cement production declined to 22.7Mt in July

Indian cement production declined to 22.7m tonnes in July, down 7.2% m-o-m and down 2% y-o-y. This takes the Indian cement output to 164.5m tonnes over the Jan.-July period, down 1.3m tonnes or 7.2% y-o-y.

Fall in cement output partially reflects the current economic uncertainty caused among other things by the recent demonetization of Rupee, which resulted in fall in customer confidence. Domestic construction market suffered from luck of cash flow.

Source: Indian Government, Various Market Sources