Peruvian firms tumble on concerns of slowing shipments

Peruvian cement makers slumped on concerns of slowing building materials sales while the government scales back infrastructure spending.

According to reports by Bloomberg, Cementos Pacasmayo SA fell one per cent yesterday, its sixth straight daily decline, to PEN4.75. Unacem, the country’s largest cement producer, lost 1.7 per cent to PEN2.9, the lowest since September 2012.

In August domestic dispatches in the Peruvian cement market edged 0.75 per cent down to 908,553t when compared with the same month of 2013, according to Asocem, the country’s cement producers’ association. Public investment in Peru is forecast to grow 3.4 per cent this year, less than a third the pace of last year, the country’s central bank said on 30 September.