Spain's cement demand in May up, worsening trade balance

Cement consumption in Spain increased 6.6 per cent YoY to 1,333,698t, according to Oficemen, the country's cement association.

In the first five months of 2019, the domestic cement market has expanded by 13.7 per cent YoY while in the 12-month period from June 2018 to May 2019 consumption rose 10.4 per cent to 14.11Mt.

"The improvement in the percentage of annual growth in this first part of the year is the result of the positive evolution of housing, which in the last 12 months has grown by 25 per cent, reaching a figure higher than the 107,000 housing permits. At the same time, there are no signs of reactivation in the execution of public works,” says the president of Oficemen, Jesús Ortiz.

Meanwhile, exports are continuing to fall. In May 2019, they were down 37 per cent YoY while the 5M19 saw a 22 per cent YoY drop from 3,472,666t in the 5M18 to 2,700,158t in the 5M19. In the 12 months to May 2019, exports declined by 17.4 per cent.

Cement and clinker imports continue to increase as in the 5M19 imports advanced 73 per cent YoY to 319,967t from 184,387t in the 5M18.