Spanish demand falls short of forecasts

Cement demand in Spain fell 9.8 per cent YoY in February 2014 to 773,293t, according to the latest data released by domestic cement association, Oficemen.

Over the first two months of 2014, consumption was down by 11.8 per cent, declining more than Oficemen’s forecast of eight per cent.

However, the association said it expects consumption trends over the coming months to be more in line with its 2014 estimates.

Following a 19.2 per cent reduction in 2013, Oficemen expects the rate of decline to ease and forecast a 7-8 per cent drop for 2014.