Cemex, the world's No. 3 cement maker, said on Monday that it saw signs of recovery in its key U.S. market, where it is a major player.

"We expect the moderate recovery that seems to be starting in some parts of the country to gradually gain strength," Hector Medina, vice president of finance, told analysts in a conference call.

He said Cemex's forecast for the U.S. market was more conservative than consensus.