New York - LafargeHolcim, the world’s biggest cement producer, is confident that a rally will continue in emerging markets this year even as others see raw materials from oil to iron ore faltering.
Higher cement buying in countries such as India, Indonesia, the Philippines and Vietnam is offsetting slower growth in China, leaving LafargeHolcim Chief Executive Officer Eric Olsen optimistic about continued expansion in markets that represent about 55 percent of his company’s footprint.
“Our volumes in emerging markets are fantastic,” he said on Monday at Bloomberg’s offices in New York. “Things are growing and growing well throughout large parts of the world.”
Raw materials such as oil, iron ore and gold are oversupplied and a recent commodities rally is temporary, according to Jeffrey Currie, an analyst at Goldman Sachs Group.