Spain’s cement exports fell 14.2% year-on-year in October, driven by rising electricity prices that increase production costs and slow down plant activity, the Oficemen Group said on Tuesday, according to the agency. Reuters.
About 580,966 tonnes were exported in October, about 96,157 less than in the same period last year.
It is noted that Spain’s cement exports had fallen by 5.9% in September.
Rising energy prices are putting pressure on heavy industry, some of which have announced production cuts or shutdowns in Spain.
Despite declining exports, domestic consumption rose 10.1% to 1.3 million tonnes in October. Oficemen notes that consumption could reach pre-pandemic levels by the end of the year.
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Source From: Capital
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