Our channel check suggests, average cement prices at an all India level is down 3% MoM in July-2020. Cement prices has taken a breather after sharp increase in the last two months. Recall, in May-20/June-20 cement price has increased by 6%/1% MoM. But despite the July-20 month weakness, average all India cement prices is up 4% MoM as on July-20 vs exit price of March-20. Cement industry production decreased by 22% YoY for May 2020 (latest data available). Led by pent up demand, cement companies has seen sharp increase in the utilization in May-20 vs April-20. But, given the monsoon, we expect the demand to decline YoY basis...