Cement faces oversupply, drop in demand

Cairo: The head of the cement committee in the Federation of Egyptian Industries (FEI) said that demand declined in the first half of 2018 to 25 million tons, compared with 26 million tons for the same period last year.

Despite the ongoing mega projects, demand on cement declined last year by 4.5% compared to 2016, Noha Bakr explained.

The main challenge for the industry remains oversupply, with stockpiles increasing by 2.3 million tons in H1-18 to 7.1 million tons, added Bakr.

Source: Mubasher

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