IGI Securities Limited – Day Break

Karachi, June 29, 2018 (PPI-OT): Cement – FY18 closes with dispatches growth of +13%YoY

As per the provisional numbers, cement dispatches for the month of Jun-18 registered a stable growth of +3%YoY to clock in at 2.81mn tons as against 2.73mn tons in the similar month last year.

Cement prices across the country have increased by +2%MoM in an effort to mitigate the impact of enhanced FED promulgated in Finance Act 2018-19.

The recent rally in global oil prices has had a chain effect on global commodity prices. This coupled with enhanced demand triggered from India and restricted coal production from China have pushed prices of coal above the two digit mark for the last couple of months.

With Eid holidays over, the construction industry is back on track and as such we expect resumption of dispatches figures in the month of Jul-18.

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