"There is no basis for prices of cement to move upward at this time," Roxas said, adding that the "current rainy season spells a lull in construction activities."
According to the DTI chief, the slowdown in construction activities reduced demand for cement and other construction materials.
"The imposition of safeguard measures on cement imports effectively shields local cement manufacturers from import surges," Roxas said.
The Department of Trade and Industry’s (DTI) regional and provincial offices have been ordered to monitor cement prices and to report the results immediately.
"We are monitoring the industry’s progress to ensure that the industry players will act responsibly and will not exploit the situation to engage in activities that will limit the competition or abuse their market power," Roxas said.
Lawyer Edcel C. Lagman, counsel of the Philippine Cement Manufacturers Corp. (Philcemcor), assured Roxas that there is no price manipulation even as the local cement manufacturers are vigilantly policing their ranks to put to rest the apprehension of the trade secretary.
Lagman said that his clients welcome the monitoring by DTI of their performance as well as the stable price and steady supply of local cement.