Dramatic plunge in cement use illustrates severity of Spain’s housing bust

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The use of cement has fallen back to levels last seen in 1966

A few years ago, at the height of Spain’s property boom, Spain was pouring more cement in a year than the rest of Europe combined (according to a recent article in The Guardian, repeated in a blog post published by Forbes)

How the world has changed. The latest figures from Oficemen, the cement industry’s association, reveal that Spanish cement use in April fell 41pc in a year, taking it back to a level not seen since 1966, 46 years ago.

Cement producers are not exactly optimistic about the short-term outlook. Thanks the Spain’s monumental glut of new homes they don’t expect demand for cement to increase much in the next two to three years.

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