Local cement companies increased their per-ton prices Wednesday by between LE15 and LE22. Some observers believe the move represents a tacit agreement between the firms–which is illegal–since there is no apparent justification for the abrupt hikes in price.
Suez Group, Egypt’s largest cement producer, raised its prices from LE500 to LE522 per ton in Cairo and to LE542 in the provinces. Meanwhile, Misr-Beni Suef raised prices by LE15 per ton, Ameriyah and Lafarge Cement by LE20 per ton, and Assiut Cement and Titan by between LE15 and LE20 per ton.
According to Mohamed Abu Shadi, head of the Trade Ministry’s internal trade department, companies attribute the price increases to rising energy and production costs. "The ministry will look into the reasons for the price jumps," said Abu Shadi, "since supply and demand are usually stable during the winter season."
Translated from the Arabic Edition.