Cement prices in Egypt fall after March high

Cement prices in Egypt fall after March high
23 April 2018

Following their rise to EGP1250/t in March, cement prices in Egypt are dropping back to EGP950 this month, according to AhramOnline.

The resumption of production at the Arish Cement Factory, the partial resumption of production at Sinai Cement, and the start of trial production at the Beni Sweif Cement Plant have all helped increase the supply of cement on the market, leading to the drop in prices,” said Ahmed Al-Zeini, head of the Construction Materials Division at the Cairo Chamber of Commerce.

Cement traders believe the March price hike was the result of increased demand for cement due to large real-estate projects by the Ministry of Housing and private companies.

The Construction Materials Division released a statement in March condemning the price rise. “A number of cement factories have exploited the situation in Sinai resulting in the halting of production at the Arish factory to raise the price of cement,” the statement said, calling on President Al-Sisi to speed up the inauguration of the cement plant in Beni Suef to push down prices.

In addition to increased domestic consumption, exports also advanced. Egyptian cement exports saw a 49 per cent increase in 2017, reaching US$94m compared to US$63m in 2016, according to the Chair of the Construction Materials Export Council, Walid Gamaleddin.

Mr Al-Zeini expects cement prices to drop further to EGP850/t after the Beni Suef plant reaches full production.

Published under Cement News

Tagged Under: Egypt cement prices