Cement Prices

Egypt: Cement Prices Rise After Currency Floatation

Following Egypt's Central Bank decisions to liberalize the exchange rate and increase interest rates, the construction materials sector, particularly cement companies, announced a price hike

Photo by Simon Berger / Unsplash

Cement companies raised prices by 100 EGP/ton weekly post-currency floatation, pushing factory prices to 1900-2200 EGP and retail to 2300-2400 EGP.

This adjustment has resulted in factory gate prices ranging from 1,900 to 2,200 EGP per ton and retail prices between 2,300 and 2,400 EGP per ton. These measures are part of broader economic reforms aimed at stabilizing the Egyptian economy, attracting foreign investments, and reducing the black market influence on the dollar exchange rate.

Despite the price adjustments, iron prices have seen a decrease of 20%, suggesting a positive impact of governmental policies on the construction materials market. The expectation is for stabilized iron and cement prices, especially with efforts to achieve a fair dollar exchange rate and the anticipation of a quieter sales period during Ramadan.

Source: Tahia Masr

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