Egypt: Cement producers have decided to keep the prices of cement 'stable' for the fifth consecutive month, Minister of Supply Khaled Hanafy has announced. Medhat Stephanos, head of cement companies at the Federation of Egyptian Industries (FDI), said the supply surplus is behind the price stability, according to local media.
Hanafy stated that 854,000t had been produced for the current month and that the total amount of supplied cement was 1.86Mt. Around 818,000t of cement were distributed in the local market and around 500,000t were exported between 9 and 15 April. Staphanos added to Daily News Egypt that the country's cement production capacity has increased following the introduction of coal as a source of energy, which reduced the energy problem that faced producers.
"We expected more activity in the processes of construction but those expectations were not met," said Stephanos. "Some projects were expected to start but have not started yet."
