Italian cement grows in June

Italian cement output expanded three per cent YoY in June. This follows a five per cent YoY expansion in May, 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-June 2024 period. This is up on the five per cent YoY contraction recorded in the first half of 2023.

Import and export data, which lag production data, show grey cement imports jumped 42 per cent YoY to 212,148t in May, with a total CIF value of EUR18.4m or EUR87/t as value per tonne. Meanwhile, grey cement exports decreased 24 per cent to 130,762t in May, with a total FOB value of EUR13.3m or EUR101/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 EUR13.3bn by August. Italian construction production expanded two per cent YoY in the first half of 2024, according to Federbeton. This contrasts to contractions in most other western European markets.