Cement companies look to control market prices in face of production decline

Cement factories have tacitly agreed to thirst the market to ensure one tonne of cement does not exceed EGP 800 during the upcoming phase, according to Egyptian Federation for Construction & Building Contractors member Daker Abdellah.

In a press conference on Friday, Abdellah criticised the increase of cement prices by EGP 50 per tonne last week, stressing that the actual production cost of one tonne of cement is estimated at EGP 280. In addition, Abdallah said the labour wages and the profit margin per cement tonne do not exceed EGP 400, while the price after the application of the latest increase will range from EGP 700-750 per tonne.

Abdellah added that the rise in cement prices to EGP 800 per tonne comes despite reduced quantities produced throughout the winter season due to a decline in demand.