Spanish demand jumps 22% YoY in March

Cement consumption in Spain soared 21.5 per cent YoY in March to 1.1Mt as the housing sector showed some recovery, according to Oficemen, the country’s cement association.

In 1Q17 Spanish cement demand increased 14.1 per cent YoY to 2.86Mt, resulting in the best first quarter of the last five years. At the end of last year, consumption fell 3.1 per cent YoY and was at an historical low.

These data are being met with "optimism", but with "caution", given the "absolute low starting values," according to Oficemen CEO, Aniceto Zaragoza. If the 1Q17 growth rate is maintained, demand is expected to reach 12.6Mt by the end of the year.