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Alexandria Commercial: Iron and cement markets slow amid declining demand
The construction materials market in Egypt, particularly iron and cement, is experiencing a recession of approximately 30 to 35% due to weak demand and rising prices. Additionally, the issuance of building permits has stalled, and local demand remains low. Experts anticipate a decrease in iron prices in the near future, driven by a decline in global demand for Bauxite ore, alongside ongoing poor sales performance due to economic conditions. Egypt produces around 7.9 million tons of steel annually and consumes between 45 to 50 million tons of cement. If operating at full capacity, its factories can produce approximately 16 million tons of steel.
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