CAIRO: The Minister of Trade and Industry said on Tuesday that seven local cement producers complied with a government decision to curb cement prices at factory ground to LE 295 and LE 302.5 per ton.
“The move led to a 15 per cent drop in cement prices at the marketplace to LE 340 per ton in most parts of the country by the end of the week, the minister added. This compares to an average price for consumers of LE 380 per ton before the government’s decisions aimed at regulating the market in August 2006.
A senior official at the Ministry of Trade and Industry, however, said that four cement manufacturers, controlling 32.4 percent of the market, failed to comply with the government decision which puts a price cap of LE 290 per ton at the factory ground and LE 330 per ton to consumers. The four companies include Alexandria Cement, Ameriya Cement, Assiut Cement and Misr Beni Sueif Cement Company.
The official said that six cement companies have complied with the government’s price cap. These companies include Sinai Cement, Qena Cement, Al Kawmia, Suez Tora and ASEC Cement, which combined control 67.7 percent of the market.
