Egypt prices stable on surplus supply

Producers in Egypt have decided to keep cement prices stable for the fifth-consecutive month, Minister of Supply, Khaled Hanafy, announced on Sunday.

The price stability is due to surplus supply, Daily News Egypt quoted Medhat Staphanos, head of cement companies at the Federation of Egyptian Industries (FDI) as saying. Output has increased following the introduction of coal, which has helped alleviate the uncertainty of fuel sources. However, producers are still waiting an uptick in demand. “We expected more activity in the processes of construction but those expectations were not met,” Stephanos said. “Some projects were expected to start but have not started yet,” he told the daily newspaper.

According to the report, prices vary between EGP600-900/t (US$78-117) the minister highlighted. For example, Suez Cement Co's price stands at EGP850/t while the National Cement Co's prices are EGP750/t in Cairo and EGP770 in other governorates. Other prices include Assuit Cement (EGP859/t), Amreyah Cement (EGP830/t). El-Sewedy Cement Co (EGP879/t in  Cairo and EGP899/t in other governorates) and ASEC Cement (EGP900/t).