Indian producers roll back prices

Indian cement producers have rolled back cement price increases announced in January due to a weaker than expected cement demand off-take.

"The dispatch scenario is very gloomy. The January-March quarter is generally a good quarter, but not this time. Pricing is weak, specifically in north India," said Prashant Bangur, whole-time director of Shree Cement Ltd told local press.

Cement manufacturers in eastern, central and western markets have also rolled back price hikes announced in January.

Prices are usually increased during the January-May period ahead of the monsoon period.  "High cement prices in January-May period helps to make up for the slump expected with the onset of monsoon June onwards. Demand, too, is typically strong in the January-May period, but the trend seen this time is different," said an analyst with a local brokerage said.