Egyptian prices have declined three times in the past two months as a result of increased supply and low demand in the market, local media have reported.
A ton of cement now costs EGP550 (US$70), down from EGP700 (US$89) at the beginning of August, the construction materials division of Cairo Chamber of Commerce Ahmed al-Zeiny told Youm7 Sunday.
Zeiny attributed the decline to the lack of construction activities this month due to holidays such as al-Adha feast.
He also cited the dollar shortage triggered by the Central Bank’s policy to prioritise strategic commodities that do not include cement; thus businesses have stopped importing cement for five months.
US cement sales rebound in October
Total shipments of Portland and blended cement, including imports, in the US and Puerto Rico amo...