More Russian cement to head for Mexico?

CDM plans to bring in another shipment from Russia despite an embargo on the first consignment. Importer CDM has been barred for the last five months from discharging 26,000 of cement because of injunctions obtained by Cemex and other local cement producers (reports Reuters, Mexico City).

"We knew it was going to be complicated because, unfortunately, in this country those controlling the market have a lot of power and have managed to keep the borders completely closed," said Ricardo Camacho, CDM’s chief executive.

"But we are not going to give up. We hope that our next import shipment will be within two or three months," said Camacho, who is also a partner in CDM, which stands for Comercio para el Desarrollo Mexicano.

Ricardo Alessio, another partner, said the second shipment will consist of 20,000t of Russian cement that CDM hopes to move into the hold of the Mary Nour, once the first shipment is released or confiscated by customs. "We want to show that what we are doing is legal and that the margins and price that exist in Mexico allow you to risk bringing a second shipment," Alessio said in an interview.