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In the US market residential building uses very little concrete (and hence cement). Even in markets where concrete residential buildings are more common the commercial building and infrastructure use larger volumes than residential. --> I would not correlate a waek consumer with weak cement demand.

Overcapacities are an issue though. e.g. in Germany there was a huge demand after the reunion to build up the infrastructure in the east. Now this is over. the cement price in Germany is EUR 65 per ton. The price in France is EUR 100 per ton. Another way to look at it is that the cartel works better in France ;-)
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