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Cement Price Trend and Forecast

UNSPC code: 30111500
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⟳ Weekly Update
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Historical Data Since 2015
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Forecast for 2026

cement Price Trends by Country

inIndia

Global cement Spot Market Prices, Trend Analysis and Forecast

Price Watch™ provides real-time price assessments and price forecasts for Cement across top trading regions:   

Cement Regional Coverage Cement Grade and Country Coverage Cement Pricing Data Coverage Explanation
Asia-Pacific Cement Pricing Analysis Cement Non-trade Prices (OPC 43) Ex-Lucknow Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Lucknow, India
Cement Non-trade Prices (OPC 53) Ex-Lucknow Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Lucknow, India
Cement Non-trade Prices (PPC) Ex-Lucknow Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Lucknow, India
Cement Non-trade Prices (OPC 43) Ex-Hyderabad Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Hyderabad, India
Cement Non-trade Prices (OPC 53) Ex-Hyderabad Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Hyderabad, India
Cement Non-trade Prices (PPC) Ex-Hyderabad Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Hyderabad, India
Cement Non-trade Prices (OPC 43) Ex-Bangalore Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Bangalore, India
Cement Non-trade Prices (OPC 53) Ex-Bangalore Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Bangalore, India
Cement Non-trade Prices (PPC) Ex-Bangalore Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Bangalore, India
Cement Non-trade Prices (OPC 43) Ex-Andhra Pradesh Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Andhra Pradesh, India
Cement Non-trade Prices (OPC 53) Ex-Andhra Pradesh Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Andhra Pradesh, India
Cement Non-trade Prices (PPC) Ex-Andhra Pradesh Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Andhra Pradesh, India
Cement Non-trade Prices (OPC 43) Ex-Patna Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Patna, India
Cement Non-trade Prices (OPC 53) Ex-Patna Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Patna, India
Cement Non-trade Prices (PPC) Ex-Patna Domestic Prices, India Weekly Price Update of Cement Real-Time Domestic Prices in Patna, India
VAT Included Cement Prices (OPC 42.5) Ex-Beijing Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Beijing, China
VAT Included Cement Prices (OPC 42.5) Ex-Tianjin Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Tianjin, China
VAT Included Cement Prices (OPC 42.5) Ex-Hebei Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Hebei, China
VAT Included Cement Prices (OPC 42.5) Ex-Shanghai Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Shanghai, China
VAT Included Cement Prices (OPC 42.5) Ex-Jiangsu Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Jiangsu, China
VAT Included Cement Prices (OPC 42.5) Ex-Zhejiang Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Zhejiang, China
VAT Included Cement Prices (OPC 42.5) Ex-Anhui Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Anhui, China
VAT Included Cement Prices (OPC 42.5) Ex-Fujian Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Fujian, China
VAT Included Cement Prices (OPC 42.5) Ex-Shandong Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Shandong, China
VAT Included Cement Prices (OPC 42.5) Ex-Hunan Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Hunan, China
VAT Included Cement Prices (OPC 42.5) Ex-Guangxi Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Guangxi, China
VAT Included Cement Prices (OPC 42.5) Ex-Chongqing Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Chongqing, China
VAT Included Cement Prices (OPC 42.5) Ex-Sichuan Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Sichuan, China
VAT Included Cement Prices (OPC 42.5) Ex-Shaanxi Domestic Prices, China Weekly Price Update of Cement Real-Time Domestic Prices in Shaanxi, China

Note: In assessments structured as CIF [Importing Port] (Exporting Country), the country mentioned in brackets indicates the primary origin of supply (exporting country), while the named port refers to the destination port in the importing country. Other Incoterms (FOB, FD, EXW, etc.) should be interpreted in accordance with standard international trade definitions. The prices we provide in China include VAT, but in other countries, domestic prices do not include tax.

Cement Price Trend Q3 2025

In Q3 2025, the North Indian Cement market (OPC 43 Grade) exhibited a mixed performance characterized by early declines followed by mild recovery toward quarter-end. Prices softened through July and August amid subdued demand, elevated inventories, and intense competition among producers. However, marginal improvement in construction activity in September lent moderate upward support, signaling early stabilization.

Ample clinker supply, steady freight, and uninterrupted raw material flow ensured balanced operational continuity across producers. With a slight 1% uptick by late September, market sentiment turned cautiously optimistic, and steady procurement volumes are advised as infrastructure activity is expected to sustain moderate price firmness into the next quarter.

INDIA: CEMENT market update – OPC 43 Grade (Ex-North India)

According to Price-Watch™ , in Q3 2025, Cement (OPC 43 Grade Ex-North India) prices recorded mixed movement, beginning the quarter with consistent declines before stabilizing and showing mild recovery in September. Weakened demand, elevated inventory levels, and heightened price competition among producers weighed on pricing during July and August.

However, marginal improvement in construction activity toward the end of the quarter introduced early signs of a rebound. Prices ranged between USD 3-4 per bag over the three-month period. Ample clinker availability, stable freight costs, and steady raw material flow ensured uninterrupted supply, though market sentiment remained cautious. Buying interest improved slightly in late September as public and private infrastructure projects revived post-monsoon.

By the end of September 2025, prices had inched up by 1.00%, indicating a gradual return of market stability. Monthly procurement should be maintained at consistent volumes, as continued construction activity and ongoing infrastructure work are expected to sustain steady to moderately firmer price sentiment through the next quarter.

Cement Price Trend Analysis: Q4 2025

In the second quarter of 2025, China’s cement market recorded a notable 2.3% price increase, marking the strongest quarterly growth since the pandemic. This upward trend was fuelled by accelerated infrastructure investment and urban renewal initiatives, which provided steady demand momentum.

However, surging thermal coal prices, up by 18% during the quarter, significantly squeezed manufacturer margins despite higher selling prices. The property market showed early signs of stabilization, with the decline in home sales slowing to 8% year-on-year, yet lingering overcapacity and fragile real estate demand continued to cap the sector’s overall upside.

Industry consolidation gained traction with three major regional mergers, enhancing producers’ pricing discipline and suggesting a shift toward moderate but more sustainable price growth, supported by infrastructure-driven demand. According to PriceWatch, Cement prices in China were assessed at USD 60 per metric ton FOB Shanghai, by the end of Q2 2025.  

In Q2 2025, India’s cement market displayed pronounced regional disparities. Ex-East India led with a 6.3% price surge, driven by robust infrastructure projects and pre-monsoon stockpiling. In contrast, Ex-West and Ex-North India recorded declines of 1.96% and 1.36%, respectively, amid monsoon disruptions and subdued construction demand. Ex-North India’s non-trade cement settled at around USD 4.30 per bag (25 kg bag) (equivalent to ₹359/bag).

Meanwhile, Ex-South India remained unchanged, reflecting balanced demand-supply dynamics. The quarter underscored how seasonal factors and infrastructure-led demand shaped divergent regional trends, while elevated input costs particularly energy helped prevent steeper price corrections across the broader market. 

In Q1 2025, Cement prices increased in the Chinese market driven by pre-holiday restocking and urban redevelopment initiatives. The new year opened with a modest 1% price increase the first quarterly rise since 2022. However, a 20% coal price surge due to Russian supply constraints pressured margins even as industry consolidation strengthened pricing power for remaining players.

The property sector remained a drag with new home sales down 15% YoY, highlighting the uneven nature of the recovery. This quarter revealed an industry at a crossroads, where policy support and production discipline were beginning to yield results, but where structural challenges in real estate and overcapacity continued to limit upside potential of cement prices. 

In the first quarter of 2025, the cement sector in India demonstrated stable pricing, particularly in the Ex-North India region where non trade cement prices stood at USD 4.28/Bag (INR 365/Bag), [i.e., 50 kg Bag] where prices remained largely unchanged due to a well-balanced supply and demand.

In contrast, the Ex-west India and Ex-east India regions experienced slight price increases of approximately 1%, driven by a gradual rise in construction activities, especially in urban areas and infrastructure projects. This pricing stability was further influenced by escalating costs linked to logistics and raw materials. 

Cement Price Trend Analysis: Q4 2024

Q4 marked an inflection point with Cement prices in China flattening and even showing 0.5% gains in some markets, supported by Beijing’s October 1 trillion-yuan stimulus package targeting infrastructure and flood recovery. Property sector easing measures, including reduced down payments and mortgage rate cuts, stimulated some housing demand, while winter production cuts balanced supply.

Major producers transitioned from defensive pricing to margin protection strategies, benefiting from an 8% monthly export increase to Africa and the Middle East that partially offset domestic weakness. The quarter demonstrated how coordinated policy action could begin stabilizing the cement market after prolonged cement price declines. 

 In Q4 2024, cement prices remained stable in Ex-west India and Ex-east India. Both regions saw little to no change in pricing, as demand remained relatively consistent. However, Ex-North India prices rose slightly by 1%, driven by a slight uptick in demand, especially from infrastructure projects and recovery in certain residential construction segments. The overall demand-supply dynamics in the North contributed to the price increase, while Ex-west India and Ex-east India remained steady due to stable market conditions and moderate demand.

Major players like UltraTech and Adani Cement ramped up competition through strategic acquisitions—UltraTech secured a 32.72% stake in India Cements, while Adani acquired Orient Cement This Acquisition adds 16.6 MTPA capacity (8.5 MTPA operational, 8.1 MTPA Ready to Execute). Accelerates Ambuja’s journey to achieve 100+ MTPA operational capacity in FY 25.

These acquisitions exerted continued pressure on prices as production capacity grew. Incremental price increases in December 2024, driven by a resurgence in real estate demand.  

The third quarter brought tentative stabilization in Cement prices in China with a slower 1.5% price decline as policymakers initiated measured responses. PBOC’s June rate cuts and special bond issuances improved liquidity, supporting small-scale infrastructure projects, though major initiatives remained delayed. Seasonal improvements in southern cement demand post-monsoon provided modest relief, with inventory levels remaining elevated at 70-75% utilization.

While coal price stabilization eased cost pressures, the cement market continued to grapple with structural oversupply and muted construction activity, particularly in the still-struggling property sector. 

The third quarter of 2024 saw a decline in cement prices across all regions, though at a more moderate pace. Ex-North India, Ex-East India, and Ex-West India all experienced a 2% decrease in cement prices. The decline in Ex-North India was driven by ongoing construction delays and fewer new infrastructure projects being launched. Ex-east India faced similar challenges, with the pace of recovery in construction activities being slower than anticipated. Ex-west India, while stable in some parts of the region, still faced pressure from oversupply and lower demand, especially in the wake of seasonal fluctuations. 

Cement Prices in China fell another 3-4% in Q2 as market conditions deteriorated further, with the property sector collapse reaching new lows following Evergrande’s liquidation and Country Garden’s default. Infrastructure growth of just 6% YoY disappointed expectations, while heavy southern rainfall disrupted construction activity. Export markets provided little relief as Southeast Asian competitors increased domestic production.

Major producers like CNBM and Anhui Conch engaged in aggressive price competition to maintain market share, even as April’s 10% coal price rebound squeezed margins. The quarter revealed an industry caught between weak domestic demand, rising costs, and intensifying competitive pressures. 

 In Q2 2024, cement prices declined further across all regions. Ex-North India, Ex-east India, and Ex-west India all experienced a 3% decrease in prices, largely driven by a slowdown in the construction sector. This was compounded by seasonal lulls in demand and lower activity in both public and private infrastructure projects. The regional supply-demand balance was disrupted, contributing to further downward price adjustments in all regions. The oversupply in certain markets and weaker demand led to significant price reductions across the board. 

The Chinese cement market experienced a 2.5% price decline in Q1 2024, reflecting typical post-Lunar New Year demand weakness exacerbated by deeper structural challenges. The ongoing property crisis saw property investment fall 9.5% YoY and new construction starts plummet 27%, while delayed infrastructure stimulus projects due to fiscal tightening further constrained demand.

With coal prices dropping 15% and industry utilization rates languishing around 65%, producers faced mounting inventory pressures. The market’s weakness was compounded by postponed infrastructure spending commitments following China’s “Two Sessions” meetings, leaving the sector in a typical seasonal slump but with amplified severity due to macroeconomic headwinds.

 The cement industry in India saw a slight decline in prices during the first quarter of 2024. Ex-North India prices decreased by about 2%, driven by reduced demand from construction sectors and lower activity in key infrastructure projects. Ex-east India also experienced a 2% decline, with factors such as sluggish demand and overcapacity in certain regional markets contributing to the downward trend. Ex-west India prices saw a more significant drop of 3%, largely due to slower urban construction demand in major metropolitan areas like Mumbai and Pune, coupled with oversupply from local manufacturers. 

Technical Specifications of Cement Price Trends

Product Description

Cement is a finely powdered material that exhibits strong adhesive properties when combined with water and aggregates. It is made from a blend of limestone, clay, and sand, which supply essential components like lime, silica, alumina, and iron. The process of cement manufacturing involves three primary phases: preparing the raw materials, producing clinker, and finally, preparing the cement.

Identifiers and Classification:

  • CAS No – 65997-15-1
  • HS Code – 252329


Cement Grades Specific Price Assessment:

  • OPC 43
  • OPC 53
  • PPC


Cement Global Trade and Shipment Terms

  • Quotation Terms (Product & Country Specific): min. 2000 bags
  • Packaging Type (Product & Country Specific): 50kg Bag


Incoterms Referenced in Cement Price Reporting

Shipping Term  Location  Definition 
Ex-North India  North India  Domestically Traded Cement price North India. 
Ex-South India  South India  Domestically Traded Cement price South India. 
Ex-East India  East India  Domestically Traded Cement price East India. 
Ex-West India  West India  Domestically Traded Cement price West India. 

*Quotation Terms refers to the quantity range specified for the Cement being quoted or offered in a commercial transaction.

**Packaging Type refers to standard packaging size commonly used for Cement packing, ease of handling, transportation, and storage in industrial and commercial applications.


Key Cement Manufacturers

Manufacturer 
UltraTech Cement Ltd 
Ambuja Cements Ltd 
ACC Ltd 
Shree Cement Ltd 
Dalmia Bharat Ltd 
Ramco Cements Ltd 
JK Cement Ltd 

Cement Industrial Applications

cement market share end use

Historically, several events have caused significant fluctuations in Cement prices

  • 2024: Weak Demand and Competitive Pricing Challenges 

At the beginning of 2024, the cement industry faced difficulties due to weak demand and intensified competition stemming from significant supply increases by major companies. Although there was a minor rise in prices since November 2024 attributed to seasonal construction patterns, the overall market remained subdued. 

  • 2023: Persistent Inflation and Increased Government Infrastructure Spending 

In 2023, India grappled with ongoing inflation fuelled by rising costs of raw materials, logistics, and labour. At the same time, the government ramped up infrastructure investments, initiating several large-scale projects and enhancing residential construction. Consequently, cement prices rose by 5-8%, especially in the Ex-West India and Ex-North India regions, driven by sustained demand from these sectors amid elevated production costs. 

  • 2022: Energy Price Spike Due to Russia-Ukraine Conflict 

The conflict between Russia and Ukraine, which began in February 2022, triggered a significant surge in global energy prices, heavily affecting cement production costs that depend on coal and oil. As a result, cement prices in India increased by 7-12% throughout 2022, with the Ex-West India and Ex-East India regions facing the most substantial price hikes due to logistical difficulties. 

  • 2020: The Effects of COVID-19 and Nationwide Lockdown 

The COVID-19 pandemic led to a nationwide lockdown in March 2020, which halted construction activities and disrupted the cement supply chain. This situation resulted in an immediate drop in demand, causing cement prices to decrease in the second quarter of 2020. However, as the economy began to reopen later that year, prices started to rebound, even though construction activity remained sluggish, largely due to ongoing supply chain challenges that raised transportation and production costs. 

Why Price Watch™?

Price Watch™ is your trusted resource for tracking global cement price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the cement market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, Price Watch™ keeps you fully informed of market dynamics.

In addition, Price Watch™ provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With Price Watch™, you gain a competitive edge in understanding all the elements that influence cement prices worldwide. Stay ahead of the curve with Price Watch’s™ reliable, accurate, and timely cement market data.

Track Price Watch's™ cement price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Cement Market Price Trend published by Price Watch™ reflect prevailing spot market conditions, derived from independent research, verified trade inputs, and proprietary market intelligence as of the publication date. Prices are published on the specified Incoterm and represent indicative base market levels, exclusive of applicable taxes, VAT, duties, tariffs, and other statutory charges. Actual transaction values may vary depending on volume, credit terms, contractual structure, and other negotiated conditions. Market prices are inherently subject to volatility, liquidity dynamics, regulatory changes, and evolving trade activity. The information provided is for reference and benchmarking purposes only and does not constitute an offer, recommendation, or guarantee of transactional outcomes. Users should exercise independent commercial judgment and assess their specific contractual, regulatory, tax, and application requirements before making business decisions. Price Watch™ assumes no liability for decisions taken based on this information.

Cement prices are shaped by several important factors. The costs of raw materials such as limestone, clay, and gypsum have a significant effect on production expenses. Energy costs are also critical, as cement production requires a substantial amount of energy; any changes in electricity and fuel prices can result in price adjustments. Transportation expenses, influenced by logistics and fuel costs, further impact the overall market pricing. Moreover, demand driven by construction projects, economic conditions, and government spending on infrastructure can push prices higher. Supply chain factors, including production capacity and any disruptions, also play a role in determining availability and pricing. Lastly, regulatory requirements for environmental compliance and the level of competition among manufacturers contribute to variations in cement prices.

To achieve better cement pricing from suppliers, begin by analysing market trends and competitor pricing to gauge what constitutes a fair rate. Cultivate solid relationships with suppliers by being dependable, which can be shown through regular orders and prompt payments. Consider bulk buying or entering into long-term contracts to obtain discounts, as suppliers typically provide more favourable rates for larger orders. Utilise competitive quotes from other suppliers as a bargaining tool during negotiations. Suggest mutually beneficial arrangements, like adaptable delivery timelines or discounts for early payments, to foster a win-win scenario. Make it a habit to periodically assess contracts and market dynamics to renegotiate prices when necessary.

Cement procurement faces several risks, such as disruptions in the supply chain, quality assurance challenges, changes in regulations, fluctuations in prices, operational breakdowns, and cybersecurity vulnerabilities. To address these risks effectively, it’s important to diversify your supplier base to minimize reliance on a single source, enforce rigorous quality assessments, keep abreast of regulatory updates, and negotiate fixed-price contracts to control expenses. Additionally, routine maintenance of equipment and ongoing staff training can help mitigate operational risks, while investing in cybersecurity strategies to safeguard against digital threats. Proactive planning and continuous monitoring are crucial for maintaining seamless procurement processes.

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