Europe: the story so far...
The first half of 2012 has continued to be difficult for European cement markets with the sovereign debt crisis casting its shadow over construction activity and poor first-quarter weather affecting a number of markets. However, with an improvement in prices being witnessed in some areas and energy costs expected to rise at a slower rate than last year, the second half of the year could prove less challenging.
An overview of first-half 2012 European cement market activity
Continuing concerns over the Europe’s sovereign debt crisis has resulted in uncertain times for the regional cement sector. Tight fiscal policy in many countries, more stringent credit conditions, high and rising unemployment and muted global growth have continued to weigh on eurozone growth and in turn have impacted construction and cement markets. Coupled with this, February’s big chill has resulted in 2012 year-to-date volumes being disappointing and have dragged on the overall results of producers active in the region.
