The UAE cement producers agreed at a meeting on August 31, 2004 not to export cement until the situation on the local cement market stabilises, it was reported on September 1, 2004.
The meeting, held at the headquarters of Sharjah Cement, was attended by representatives of Fujairah Cement, Gulf Cement, Sharjah Cement, Binani Cement, Ras al-Khaimah Cement, Emirates Cement and Umm al-Qaiwain Cement. During the meeting, the cement makers also agreed to co-operate to cover any deficit on the local market and help cover any deficit that any of them might encounter. The producers also reviewed the current situation on the local market, the latest developments in the building and construction sectors and the prices of building materials.
The UAE market has been witnessing increasing prices of cement and other building materials, boosted by strong local demand and high construction activity. The UAE authorities, contractors and cement makers have tried to curb the price increase by lowering cement prices, setting maximum prices for the material and resorting to imports to meet the demand.