Considering weak demand, cement companies across the country slashed prices in May, even before the onset of monsoon this year. Prices declined by Rs 5-Rs 12 in all regions, except the south and central regions of the country, where prices have been stable. Demand has slowed, compared with April levels. Most dealers in India expect prices to hold firm during the month, and decline after mid-June. Vinita Singhania, Managing Director JK Lakshmi Cement, said demand in April has gone absolutely haywire due to several reasons. While there is a shortage of laborers due to which there could be a slowdown in construction activities, certain infrastructure projects have not taken off. Prices have started falling due to these reasons. Cement Manufacturers’ Association said that this year, cement prices have declined even before the arrival of monsoon due to oversupply. The price correction has come a little earlier than expected as demand didn’t pick up in line with our expectations, the official said.The earlier price uptrend since February corrected from Rs 314 per bag in mid-April to Rs 308 per bag by April-end, as demand from construction activity has been low. The most recent price cut was Rs 3 per bag, with current price at Rs 265 per bag. Price cuts will likely to continue. There is limited scope for price rise as construction activity slows down during the monsoon quarter beginning May-end or early June.