Egyptian cement sees highest sales in recent years during March

Total sales recorded 4.99mln tonnes during March, up 22% month-on-month

  
Image used for illustrative purpose. A worker wearing a protective face mask stands on a building under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

Image used for illustrative purpose. A worker wearing a protective face mask stands on a building under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

REUTERS/Mohamed Abd El Ghany

Egypt’s cement industry witnessed strong sales in March, with industry dispatch indicators registering one of the highest monthly run rates in recent years. 

Total sales recorded 4.99 million tonnes (including exports) during March, up 22% month-on-month (m-o-m) and 15% year-on-year (y-o-y), the highest in years. 

Total industry utilisation rate jumped to 74% compared to 60% in February, up significantly versus the average of 59% recorded in 2020. 

Excess capacity amounts to 26%, the lowest since 2018. Watania Cement (Beni Suef) recorded the highest sales of 990,000 tonnes with a market share of 20%, according to calculations. This meant that volumes were up 40% m-o-m, and 141% y-o-y. 

Among listed producers, Sinai Cement recorded the strongest growth with sales growing 51% m-o-m and 72% y-o-y. Most other listed peers recorded a drop in sales on a y-o-y basis. 

Although one of its lines was not operating for most of March, Arabian Cement’s volumes saw an improvement of 39% m-o-m, but recording a 41% y-o-y decline. 

Misr Beni Suef Cement registered volumes of 115,000 tonnes, down 8% m-o-m and 47% y-o-y, whilst Misr Cement Qena registered volumes of 343,000 tonnes, down 5% m-o-m and 14% y-o-y.

South Valley Cement 34,000 tonnes, down 23% m-o-m and 40% y-o-y, whilst Suez Cement, posted sales of 423,000 tonnes, declining 6% m-o-m and 26% y-o-y.

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