Italian cement output rebounded in May with growth of five per cent YoY. This follows a decline of two per cent YoY in April, according to the latest data from Italian concrete association, Federbeton.
In year-to-date terms, cement output rose two per cent YoY in the January to May period. This is up on the seven per cent YoY contraction recorded in the same period of 2023.
Import and export data, which lag production data, show grey cement imports jumped 78 per cent YoY to 243.268t in April, with a total CIF value of EUR20.9m or EUR86/t. Meanwhile, grey cement exports increased seven per cent to 172,182t in April, with a total FOB value of EUR16.7m or EUR97/t.
Strong local government and infrastructure spending across all regions of the country is underpinning cement demand, with spending since the start of the year amounting to EUR11bn by July. Italian construction production expanded eight per cent YoY in the first five months of 2024, according to Federbeton. This contrasts to contractions in most other western European markets.
