FEI: Egypt faces oversupply

Cement demand declined in 1H18 to 25Mt, compared with 26Mt in 1H17, according to Noha Bakr, the head of the cement committee of the Federation of Egyptian Industries (FEI).

In 2017 domestic consumption decreased 4.5 per cent YoY despite ongoing mega projects, Mr Bakr said. He added that the main challenge for the industry remains oversupply as stockpiles rose by 2.3Mt in 1H18 to 7.1Mt.