Chile: The combined cement sales of Cbb, Melón and Polpaico continued a three-year decline with a 4% year-on-year drop in the first half of 2024, to 1.83Mt. In terms of market shares, Polpaico retained 40%, Melón 34% and Cbb 26%. Noticias Financieras News has reported that low domestic demand caused the fall in sales. Despite the general downturn, Cbb succeeded in more than doubling its profit to US$18.5m, by increasing its shipments of cement, which offset a decline in concrete sales.
Polpaico said "During the second quarter of 2024, the cement and concrete industry in Chile continued to face significant challenges, reflected in a slowdown in the construction sector." It added that there was ‘constant price competition’ exacerbated by an ‘abnormal volume of rainfall’ in June 2024.
Melón said "There has been a slowdown in projects under development compared to previous periods. On the other hand, production and distribution costs have continued to be under pressure, which in this period are mainly related to the increase in the exchange rate."
