Economy, Business And Markets
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Cement Inventory High

Cement Inventory High Cement Inventory High

Over 16 million tons of cement are currently in warehouses due to low demand, according to deputy minister of industries, mining and trade Jafar Sargheyni, Mehr News Agency reported. The Iraqi market, which was once the main destination for Iranian cement, was until recently a lifeline for local producers to cope with the recession in the construction sector. After the Iraqi government banned imports in April, Iranian cement manufacturers are seeking alternative markets. Shipments have been sent to Tanzania and Egypt, while an agreement has been signed with Haiti for exports to the Caribbean nation.

Financialtribune.com