October 27, 2020

Egyptian cement sales surge 10% m-o-m in September


Demand for cement in September rises to highest since April 2020

Egypt’s cement industry reported total sales of 3.8m tonnes, including exports, during September, declining 12.5% year-on-year (y-o-y), but reflecting a rise of 10% month-on-month (m-o-m).

The m-o-m surge in September reflects the highest demand for cement since April this year.

Naeem Research said that, according to its calculations, the monthly demand for cement is still 15% short of run rates prior to the novel coronavirus (COVID-19) pandemic. However, there are obvious signs of a sequential pick up in contracting activity.

Taking indications from the latest sectoral data, the average industry utilisation rate stood at around 56%, implying excess cement capacity of close to 44% in September.

With regards to individual producers, most entities posted a m-o-m surge in sales volumes. Sinai Cement (SCEM EY) ranked as the best performer in terms of volumes, which increased 3% y-o-y and 7% m-o-m.

Suez Cement (SUCE) continues to perform relatively well too, reporting total sales of 617,000 tonnes, up 28% m-o-m, despite its volumes remaining flat y-o-y. Arabian Cement (ARCC) reported sales amounting to 378kt, down 5% y-o-y but up 20% m-o-m.

Misr Cement Qena (MCQE) saw volumes down 9% y-o-y, but increasing 29% m-o-m. Misr Beni Suef Cement’s (MBSC) sales volumes were down 40% y-o-y, but up 19% m-o-m.

dailynewsegypt


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