Global cement prices started 3Q 2012 on an upward trend that was fully reversed by the end of the quarter. Preliminary price levels reported for 2012 initially revealed an uninterrupted series of monthly price increases for the first seven months of the year.
The Mediterranean Basin is currently under the influence of two major trading forces. On one side, the world’s major cement exporter, Turkey, is tackling a declining exporting volume courtesy of the shrinking import need from Syria and by the increased competition present on the Iraqi cement market where Iran is continuously increasing ground given its more competitive prices. On another end, Spain, Portugal, Greece and Italy are struggling to soften their tough domestic conditions by tapping into exporting activities.