Chamber of Building Materials Industry: Availability of cement in the local market in large quantities exceeding five million tons per month
Ahmed Shereen Karim, Head of the Cement Producers Division, stated , a member of the Board of Directors of the Chamber of Building Materials Industries in the Federation of Egyptian Industries, that what was circulated recently in the media about the high cement prices and the low supply of it in the local market, is unreal, noting that the division confirms the availability of cement in the local market in large quantities exceeding five million tons. Monthly exceeding demand and that there is no truth to what is being traded about the lack of supply in the market.
4805 Karim added, as confirmed by the Cement Division. However, the increase in cement selling prices was as a result of the rise in global coal and energy prices to more than four times, and coal constitutes between 60 and 70% of the cost of production and is completely imported, and it is not expected that prices will rise during the period
He said, the markets today witnessed a decline in cement prices as a result of supply and demand variables, despite the current developments. The global economy is witnessing as a result of the difficult economic conditions the world is going through and the Russian-Ukrainian war.
The Cement Producers Division calls upon all those involved From dealers, distributors, contractors, real estate developers, and various media outlets to beware of some spreaders of harmful misinformation that are tainted by the goals and personal interests of some individuals, which would stir public opinion and create confusion without foundation.
The Division also notes that in the event of a desire to obtain information or media data related to the cement industry and manufacturers, contact the Division to avoid any false information and data.