Spanish cement market contracts 1% in 8M24

Cement demand in Spain slipped 1.4 per cent in the January-August 2024 period to 9,641,354t when compared with the first eight months of 2023, according to Oficemen.

"Despite the decline in August, the evolution of accumulated consumption in 2024, once the figures for the two summer months have been incorporated, has improved by almost two percentage points the 3.3 per cent drop recorded in June, which confirms our forecasts of a moderate change in trend towards the more positive data for the end of the 2024 financial year," said Oficemen general director, Aniceto Zaragoza.

Exports saw a 17.5 per cent drop to 3,129,945t in the 8M24. This compares to a 20.2 per cent drop in the 1M24. In July exports were up by 13.5 per cent, but this was insufficient to offset the 18.2 per cent fall in August.