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Portland cement is a hydraulic binder made by grinding clinker, burnt limestone and clay, with gypsum, and is the base of concrete, mortar and grout for housing, roads, bridges and dams. China and India dominate output, followed by Vietnam, the US and the EU, with Holcim, Heidelberg Materials, Cemex, UltraTech, Anhui Conch and CRH among the majors.
Prices edged up in India in 2026. The fiscal 2026 average was about USD 71.6 per tonne, the April to June quarter about USD 72.7, up about 4 percent on the prior quarter, and September about USD 73.9, up USD 1.45 on August.
Indian cement was about USD 73.9 per tonne in September, with a domestic brokerage expecting October hikes of USD 1.04 to 4.15 per tonne, while Europe was in the mid to high USD 100s per tonne ex-works. The price outlook is shaped by four key drivers.
Supplier news: UltraTech reported in July 2026 domestic volume up 13.1 percent to 39.2 million tonnes at 81 percent utilisation, and Ambuja reported in July 2026 volume of 17.1 million tonnes, with revenue down 7.5 percent, while targeting 119 million tonnes of capacity by end of fiscal 2027. Heidelberg Materials introduced fuel surcharges in July 2026, and Amrize reported flat second quarter cement prices in August 2026. Short term, higher fuel costs support hikes. Long term, carbon costs keep European prices elevated.
Expect steady gains across all four markets through H2 2026 as construction and infrastructure spending continues its gradual recovery. China and India should retain their cost advantage given their massive scale of domestic production capacity. The United States should retain its premium given its higher energy and labour cost structure relative to the other three markets. Energy price trends remain the key variable to watch, given cement kilning's substantial fuel and electricity intensity relative to most other construction materials.
H1 2026 closed with the 4 tracked markets averaging a 5.6% increase move quarter on quarter. That trajectory should hold into H2 unless one of the cost or demand drivers above shifts materially.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 86.57 - 95.50 | Balance of regional supply and demand conditions |
| United States | 131 - 144 | Firm construction and infrastructure spending kept US pricing climbing |
| China | 64.02 - 70.62 | Steady government infrastructure spending met ample domestic capacity |
| India | 79.54 - 87.74 | Strong construction sector growth kept Indian pricing rising in step with the country's continued infrastructure investment |
| Turkey | 71.78 - 79.18 | Firm regional construction demand supported a steady quarter |
United States's price gained 5.5% to USD 135/MT, firm construction and infrastructure spending kept US pricing climbing, making it the priciest of the 4 markets tracked here this quarter.
Why did the price of Portland Cement change in Q2 2026 in United States?
Firm construction and infrastructure spending kept US pricing climbing, reflecting the region's higher energy and labour cost base, which puts United States roughly 51.3% above the average across the 4 regions this report tracks.
Set against a 2.7% average quarterly pace over the six quarters this report tracks, United States's move this quarter landed faster than that trend.
In Q2 2026, China priced at USD 66.00/MT, up 6.5% from USD 62.00/MT the previous quarter, ranking it the most affordable among the 4 markets this report follows.
Why did the price of Portland Cement change in Q2 2026 in China?
Steady government infrastructure spending met ample domestic capacity, supporting a modest increase, working out to China trading about 26.1% below this quarter's 4-region average.
Measured against China's own average pace of 2.6% a quarter across the six quarters this report tracks, this move came in faster than that pace.
India reached USD 82.00/MT in Q2 2026, strong construction sector growth kept Indian pricing rising in step with the country's continued infrastructure investment, placing it the 2nd most expensive across the 4 regions covered in this report.
Why did the price of Portland Cement change in Q2 2026 in India?
Strong construction sector growth kept Indian pricing rising in step with the country's continued infrastructure investment, leaving India running roughly 8.1% below the 4-region average for the quarter.
That is faster than the 2.6% average quarterly move India has posted across the six quarters this report tracks.
Turkey rose 5.7% to USD 74.00/MT in Q2 2026, firm regional construction demand supported a steady quarter, putting it the 3rd most expensive of the 4 markets tracked this quarter.
Why did the price of Portland Cement change in Q2 2026 in Turkey?
Firm regional construction demand supported a steady quarter, with Turkey now sitting about 17.1% below the 4-region average this quarter.
Turkey has averaged 2.6% a quarter over the six quarters this report tracks; this move came in faster than that longer-run pace.
United States's price gained 2.1% to USD 128/MT, early-year construction sector demand supported a firm start to 2026, making it the priciest of the 4 markets tracked here this quarter.
Why did the price of Portland Cement change in Q1 2026 in United States?
Early-year construction sector demand supported a firm start to 2026, which puts United States roughly 51.5% above the average across the 4 regions this report tracks.
Set against a 2.7% average quarterly pace over the six quarters this report tracks, United States's move this quarter landed slower than that trend.
In Q1 2026, China priced at USD 62.00/MT, up 1.7% from USD 60.97/MT the previous quarter, ranking it the most affordable among the 4 markets this report follows.
Why did the price of Portland Cement change in Q1 2026 in China?
Consistent infrastructure spending carried prices modestly higher as the year began, working out to China trading about 26.6% below this quarter's 4-region average.
Measured against China's own average pace of 2.6% a quarter across the six quarters this report tracks, this move came in slower than that pace.
India reached USD 78.00/MT in Q1 2026, growing construction activity supported a firm early-year increase, placing it the 2nd most expensive across the 4 regions covered in this report.
Why did the price of Portland Cement change in Q1 2026 in India?
Growing construction activity supported a firm early-year increase, leaving India running roughly 7.7% below the 4-region average for the quarter.
That is slower than the 2.6% average quarterly move India has posted across the six quarters this report tracks.
Turkey rose 1.9% to USD 70.00/MT in Q1 2026, steady regional demand supported a modest early-year gain, putting it the 3rd most expensive of the 4 markets tracked this quarter.
Why did the price of Portland Cement change in Q1 2026 in Turkey?
Steady regional demand supported a modest early-year gain, with Turkey now sitting about 17.2% below the 4-region average this quarter.
Turkey has averaged 2.6% a quarter over the six quarters this report tracks; this move came in slower than that longer-run pace.
The global average climbed steadily across the window, from USD 78.25/MT in Q1 2025 to USD 89.25 by Q2 2026, a gain of 14.1% over six quarters.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 89.25 | +5.6% | ↑ Rising |
| Q1 2026 | 84.50 | +1.9% | ↑ Rising |
| Q4 2025 | 82.89 | +1.9% | ↑ Rising |
| Q3 2025 | 81.31 | +1.9% | ↑ Rising |
| Q2 2025 | 79.77 | +1.9% | ↑ Rising |
| Q1 2025 | 78.25 | - | - Stable |
| Q3 2026 | In Progress | - | - In Progress |
Portland Cement pricing trended upward through 2025 on a global average basis, starting the year around USD 78.25/MT and ending it at USD 82.89, a 5.9% increase over the four quarters.
United States prices moved from about USD 118/MT in Q1 2025 to USD 125 by Q4, up roughly 6.3%, placing United States 1 of 4 tracked markets as 2025 closed out.
China prices moved from about USD 58.00/MT in Q1 2025 to USD 60.97 by Q4, up roughly 5.1%. China closed the year ranked 4 of the 4 markets this report tracks.
India prices moved from about USD 72.00/MT in Q1 2025 to USD 76.45 by Q4, up roughly 6.2%, leaving India in 2 place among the 4 tracked markets heading into the new year.
Turkey prices moved from about USD 65.00/MT in Q1 2025 to USD 68.72 by Q4, up roughly 5.7%. That left Turkey ranked 3 of 4 tracked markets heading into 2026.
Expert Market Research: Your Source for Real-Time Portland Cement Price Intelligence
Rather than reporting a single number in isolation, we follow portland cement pricing back to its roots: limestone, clay/shale, and gypsum costs, regional supply and demand balance, and the policy shifts that move both. That research gets updated on an ongoing basis across every region we cover.
Forecasts draw on production capacity data, feedstock cost trends, and demand signals from the regions we track, giving procurement and sourcing teams a grounded basis for budgeting and supplier negotiations rather than a single static number.
For a deeper regional cut, historical data beyond the six quarters covered here, or a sourcing analysis tailored to your own procurement footprint, get in touch with our analyst team directly.
We track OPC 43, OPC 53, and PPC grade pricing where data allows, since general construction, structural, and durability-focused applications each favour a specific grade suited to their requirements.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Portland cement is produced by grinding and heating limestone with clay or shale and a small amount of gypsum in a rotary kiln, then finely grinding the resulting clinker into the binding powder used in nearly all modern concrete. OPC 43 and OPC 53 grades, named for their compressive strength class in megapascals, serve general construction, while Portland Pozzolana Cement, PPC, blends in fly ash or other pozzolanic materials for improved durability and lower cost.
In Q2 2026, it averaged USD 135/MT in United States, USD 66.00/MT in China, USD 82.00/MT in India, USD 74.00/MT in Turkey, with United States the priciest of the 4 markets tracked in this report.
The global average moved from USD 82.89/MT in Q4 2025 to USD 84.50 in Q1 2026, then to USD 89.25 by Q2, a 7.7% increase across the two quarters.
Firm construction and infrastructure spending kept US pricing climbing, a pattern echoed with local variation across the other markets this report follows.
Expect steady gains across all four markets through H2 2026 as construction and infrastructure spending continues its gradual recovery.
Among the 4 regions this report covers, United States trades highest and China trades lowest, a gap driven by differences in local production cost, import exposure, and demand intensity rather than any single factor.
Limestone, clay, and gypsum feedstock and quarrying costs; Construction and infrastructure spending, the dominant end use by an overwhelming margin; Energy costs, given cement kilning's substantial fuel and electricity requirements, along with broader macroeconomic conditions across the 4 regions this report tracks.
China and India, the world's two largest cement producers by volume, have both built substantial domestic capacity to serve their own enormous construction sectors, giving both countries a structural cost advantage tied to production scale rather than superior raw material access.
Cement is heavy and relatively low in value per tonne, making it expensive to transport over long distances relative to its price. That combination means cement trades overwhelmingly as a regional or local commodity rather than a globally arbitraged one, allowing genuine and persistent price differences to exist between regions without the cross-border trade flows that typically narrow such gaps in more easily shipped commodities.
Monthly, though our analysts flag any material shift in feedstock costs or regional demand as soon as it emerges.
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