Sunday 22 May 2022
I wrote – Sherine Salah:
Ahmed El-Zeini, head of the Building Materials Division of the General Federation of Chambers of Commerce, told Masrawy that the Arish Cement Company reduced the price of a ton by 100 pounds, starting today, Sunday, in the markets.
Al-Zaini attributed the decline in prices to the company’s desire to activate the movement of buying and selling in the market.
According to Al-Ziny, the current price of a ton at the Arish Cement Company, for delivery of the factory land, fell to 1050 pounds, compared to 1150 pounds before the decline.
Al-Zayni stated that the price of a ton for the consumer ranges between 1,150 and 1,200 pounds in the company.
According to previous data of the Cement Division of the Chamber of the Federation of Industries, the production capacity of cement companies in Egypt reaches more than 80 million tons annually, while the actual production is estimated at about 55 million tons, before the decision to reduce production that was approved by the Competition Protection Authority.
The Competition Protection Authority issued a decision in July 2021 to approve the request of 23 public companies in the cement sector to reduce cement production capacity in order to reduce the excess supply that the sector has been suffering from over the past three years.