High Demand, Tight Shipping Culprits in Cement Shortage 5/17/2004
From: Ryan Puckett of Portland Cement Association, 847-972-9136 or rpuckett@cement.org, Web: http://www.cement.org/newsroom SKOKIE, Ill., May 17 -- A shortfall of shipping to carry cement imports coupled with a surge in construction activity has resulted in cement shortages gripping some regions of the United States, according to a report released by PCA's economic research department. "There are two root causes for the cement shortage," says PCA chief economist Ed Sullivan. "Global transportation conditions that hinder the flow of imports, and added demand associated with the ongoing U.S. economic recovery." The booming Chinese economy has tied up bulk shipping, which has disrupted the flow of imported cement that traditionally fills the gap between domestic production and consumption. Meanwhile, a recovering U.S. economy is creating record demand for cement on the heels of a strong winter construction season that drew down inventories. More information on cement shortage is available online at the following links: FAQ -- http://www.cement.org/pca/shortageQA.asp Full report (PDF format) -- http://www.cement.org/Cement percent20Shortage percent20Flash percent20Rpt.pdf ------ Based in Skokie, Ill., the Portland Cement Association represents cement companies in the United States and Canada. It conducts market development, engineering, research, education, and public affairs programs. |