23 August 2019

Philippines: The tariff on cement imports will not exceed US$5.68/t, the figure recommended by the Tariff Commission. Trade and Industry Secretary Ramón López has stated that the safeguard ought not cause prices to rise. The provisional safeguard duty of US$4.02/t will remain until 10th September 2019.

Iraq: The Ministry of Finance has approved construction work to restore the capacity of a cement plant in Kufa, Nafaj governorate, damaged in recent conflict. Thompson Reuters reported that work is set to commence pending the imminent release of the funds. Member of Parliament Fadhil Al-Fatlawi of the Labour and Social Care Committee has expressed the expectation that, at its full capacity of 0.18Mt/yr, the plant will accelerate the country’s restoration.

Egypt: Misr Beni Suef Cement has reported net profits for the six months to 30 June 2019 of US$2.76m, down by 78.8% from US$13.0m in the same period of 2018. This is part of a wider profit slump for Egyptian domestic cement producers, with Misr Cement Qena’s first half figure down by 85.2% to US$0.87m from US$6.00m a year ago.