Spanish 1H22 cement demand stable, exports down

Cement consumption in Spain remained stable in June, registering a -0.1 per cent slip when compared to June 2021, according to the Spanish cement association, Oficemen.

In the first six months of 2022, demand increased by 2.5 per cent to 7,487,569t, but exports were down 21 per cent YoY to 2,908,877t.

Going forward, Oficemen expressed concern about the economic context of rising interest rates and high inflation, indicating a possible recession. In addition, it appealed to the government to take action to curb the loss of the export competitiveness of the domestic cement industry.

“Since the Iberian Mechanism began to be applied, there has been a drop in the average price of electricity for industry, although much less significant than expected. The mechanism is capable of moderating the price of the wholesale market, but the lack of wind generation caused by the heat wave and the consequent increase in the use of combined cycles, together with the increase in the price of gas, makes a global reform necessary of the European electricity market, as recently revealed by the President of the European Commission, Ursula von der Leyen”, explains Oficemen General Director, Aniceto Zaragoza.