Mexican cement market contracts 6% in 2Q20

Mexican cement market contracts 6% in 2Q20
19 October 2020

Cement sales in Mexico declined 6.3 per cent YoY in the 2Q20 as construction companies reduced their demand and there was a slowdown in private works due to COVID-19.

“We are talking about volumes of 43Mt of cement sold in 2018, to fall around 40t in 2019 and this year we have a two per cent drop in the first half, but I would expect the levels of 40Mt to be maintained this year, ”,said Jamie Rocha Font, president of the national cement chamber, CANACEM.

He highlighted that the boost to private and public works will help cement and construction sector to recover. Both industries continue to show a decline despite their reactivation.

While the ready-mix concrete sector saw a 40 per cent YoY decline in the 2Q20, the cement sector was supported by self-construction of housing, infrastructure and mega projects such as the Maya and Interoceanic Trains, Dos Bocas refinery and Santa Lucía airport.

Published under Cement News