Vietnamese cement, clinker markets cautious as US tariff uncertainty lingers

Vietnamese cement and clinker markets adopted a cautious stance in the week to July 25, with prices remaining steady amid lingering uncertainty over US import tariffs, said trade participants.

The uncertainty stems from ongoing discussions over US import tariffs on cement and clinker exported from Vietnam. Market talks suggest that a 10% duty will apply to domestically produced materials while a 20% tariff may be levied on trans-shipped products, which are first imported into Vietnam before being re-exported to the US.

"If it's 10%, I don't think it will have much impact," a Singapore-based trader said. "But if it's 20%, producers might be forced to adjust their pricing."

Despite the tariff discussions, near-term shipment activity to the US remains unaffected. "We are still supplying based on the original schedule. No push to advance the shipments," another Singapore-based trader said.

Bulk cement indications for August shipments were heard stable at $38/mt FOB Vietnam. Clinker levels edged slightly lower to $33–$33.50/mt FOB, with some traders warning that prices may fall further.

"Some local sellers are getting desperate," one source said, adding, "We might see prices dip below $33/mt next week."

Platts, part of S&P Global Energy, assessed CEMDEX Turkey at $55/mt on July 24, unchanged from the previous week. Platts also assessed cement clinker FOB Turkey at $48/mt on July 24, up from $46/mt a week ago.