Cement consumption in Spain saw a decline of 8.6 per cent in July and 5.3 per cent in August, according to Oficemen, the country’s cement association. This has resulted in a 2.3 per cent drop in cement consumption for the year to date to approximately 9.8Mt.

“The latest data from the cement statistics continue to point to a slowdown in the construction sector in our country, which has been brewing for a four-month period, and which is also supported by the analyses of other institutions such as Eurostat, whose latest data, from June, reflect a drop in the production of the construction sector of 10.4 per cent,” said Oficemen General Director, Aniceto Zaragoza.

Moreover, cement consumption in the last 12 months declined to below 15Mt. "In an economic context of inflation and low investment, reinforcing public-private collaboration could partially alleviate the burden currently caused by the high volumes of unexecuted work,” Mr Zaragoza added.

Exports were also down, by 21.4 per cent YoY, in the first eight months of 2022 to over 3.7Mt, representing a loss of over 1Mt in the 8M21. In July alone export shipments fell by 24.4 per cent, followed by a 5.7 per cent drop in August 2022.

In the last 12 months, exports declined to below 6Mt. Mr Zaragoza attributed the loss due to reduced export competitiveness as a result of high electricity prices. In addition, the current energy crisis has seen electricity prices further, leading to a four-fold rise in the the last two years.