Egyptian cement demand falls almost 10% in April

The Egyptian cement industry's sales volumes for April, excluding exports, dropped 9.7 per cent MoM and 13.4 per cent YoY. Moreover, local sales witnessed almost the same level of drop of 9.2 per cent  MoM and 12.6 per cent YoY, respectively.

The cement demand fell during April and May as construction activity slowed, impacted by the ongoing coronavirus containment measures and Ramadan. Egypt's cement industry has for some time been struggling with a supply glut of more than 40 per cent, which has translated into plummeting utilisation rates and weak prices, reports Menafn.

In April Arabian Cement, Misr-Beni Suef cement and Misr Cement Qena were the most impacted in the stock market. These companies reported total dispatches declining by 12.2, 18 and 22.1 per cent, respectively. However, Suez Cement (SUCE) was the least affected, as sales declined by only 2.4 per cent.