The state-owned iron ore producer raised lump ore and fines price for the second consecutive month in October by 5-6% to ₹5,200 and ₹4,460 per tonne, respectively.
The Tata Steel UK transition is EPS accretive, given current cash losses will end, as the company will import substrate instead of producing at old facilities, said an analyst.
Cement prices have been raised for the second time this month in eastern parts of India, while remaining steady in other regions. Weak monsoon rains in August helped boost demand, resulting in price increases of 3-10% earlier this month. Cement prices are now at record highs in the Kolkata region, at around Rs 410 per bag, and at a pan-India high of Rs 435 per bag in Odisha.
Prices were increased 3-10% earlier this month across regions, spurred by weak monsoon rains in August which helped prop up demand even in the seasonally weak September quarter.
While volume growth is decent, prices remain subdued. Dealer channel checks by some brokerages show that volumes likely grew in high single- to low-double digits in August, but cement prices were under pressure.