The analyst from Intercam, Alejandra Marcos, stated that despite the consolidated guide for 2025 showing stable volumes of cement and aggregates, as well as low growth in concrete, volume projections were reduced.
In this regard, the Mexican company Cemex is seeking to flexibilize its cement shipments to the United States before additional tariffs are applied to countries such as Turkey, Vietnam, or Greece, which are significant cement exporters to the U.S. market.
Jaime Muguiro, CEO of Cemex, warned his clients about possible immediate price increases if tariffs remain in markets like Vietnam (46%) and Turkey (10%). To avoid these costs, the company plans to use rail and maritime transport routes from Mexico to replace suppliers subject to tariffs. In addition, they have two vessels of their own to operate these routes efficiently.
Muguiro indicated that they maintain their strategy to meet demand and capacity in the United States, as well as to optimize costs in this context. Operational efficiency in the U.S. has improved by 5% annually, allowing them to produce more cement locally and replace imports.
However, Cemex faces a challenging environment, especially in Mexico, where revenues have fallen by up to 25% in the quarter due to lower demand for cement and concrete, caused by a slowdown in the construction sector. Upcoming quarters are expected to continue showing weaknesses in the U.S. and Mexican markets, with the latter being the most affected by the revenue declines.
