São Paulo (Reuters) – Cement sales in Brazil made further progress in October, growing 9% compared to a year before and slightly above sales in September, according to data released this Friday (8) by the association of cement manufacturers , Snic.
The volume sold in October totaled 5.921 million tons, out of 5.425 million tons registered in the same month of 2023. In September this year, sales totaled 5.8 million tons.
Snic stated that the growth in sales is due to the heating of the real estate market, which has been driven by the Minha Casa Minha Vida program and a positive job market.
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With the performance of recent months, sales in 2024 should grow by around 3%, to 64 million tons, the entity stated. In the year to last month, cement sales in Brazil total 54.6 million tons, an increase of 4.6% over the same period in 2023.
The return of the cycle of rising interest rates, however, is seen as a factor that could determine a growth rate in product consumption in 2025 that is lower than in 2024. “The rising interest rate trajectory signals caution in the industry’s prospects Brazilian for the year 2025”, stated Snic.
In October, all regions of the country showed growth in cement sales, with emphasis on an expansion of almost 16% in the South, following the rain tragedy in Rio Grande do Sul. Meanwhile, in the North, whose river transport system has been Affected by the drought, sales grew 0.7%, according to Snic data.
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