{"id":555674,"date":"2021-11-23T04:00:06","date_gmt":"2021-11-23T04:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/slightly-less-cement-oversupply\/"},"modified":"2021-11-23T04:00:06","modified_gmt":"2021-11-23T04:00:06","slug":"slightly-less-cement-oversupply","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/slightly-less-cement-oversupply\/","title":{"rendered":"Slightly less cement oversupply"},"content":{"rendered":"

<\/a> Local cement production is on course to easily outstrip demand in 2021<\/strong> despite production cuts<\/a> being introduced in July to ease the years-long supply glut. But Lafarge Egypt says there are signs market demand is starting to recover, with CEO Solomon Baumgartner-Aviles now projecting a 7% rise in sales this year to 48 mn tonnes,according to Al Borsa<\/a>. But sales will continue to be outweighed by production, which according to Baumgartner-Aviles sits at around 82.5 mn tonnes.<\/p>\n

Producers have been flooding the market with cement for years<\/strong>, with annual production surging to 85-87 mn tonnes in the past three years, far surpassing market demand. A new state-owned plant in Beni Suef only made matters worse, adding 13 mn tonnes of capacity to the market every year since its launch in 2018.<\/p>\n

Supply cuts were introduced in July to ease the glut:<\/strong> In place for a year, the quotas compel market players to cut production by at least 10.7%, while additional cuts of 2.81% per production line can also be made. Industry executives have previously said<\/a> that cement producers could be asked to cut production by at least 10%, as part of a proposal put forward by the Egyptian government to reduce the supply glut that is crippling the industry.<\/p>\n

Lafarge wants to leave coal behind: <\/strong>The company is looking to reach an agreement with the government to start relying on natural gas instead of coal, which would allow companies to cut their emissions in half, the CEO said.<\/p>\n

A <\/strong>surge in global coal prices<\/a><\/strong> this year has put further pressure on the margins of cement companies<\/strong>, most of which rely on coal to power their facilities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Local cement production is on course to easily outstrip demand in 2021 despite production cuts being introduced in July to ease the years-long supply glut. But Lafarge Egypt says there are signs market demand is starting to recover, with CEO Solomon Baumgartner-Aviles now projecting a 7% rise in sales this year to 48 mn tonnes,according […]<\/p>\n","protected":false},"author":1,"featured_media":555675,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7513],"tags":[9024,1002,1141,72,1858,79],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-basic-materials","tag-basic-materials","tag-cement","tag-coal","tag-enterpriseam","tag-lafarge-egypt","tag-public-enterprises-ministry","wpautop","entry"],"acf":{"mongo_id":"c2c765dd-07a0-489c-919e-8a64ab7bddb2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/558.jpg","photo_position":"above","related_issue":[555667],"teaser":"","voice_url":""},"yoast_head":"\nSlightly less cement oversupply - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/slightly-less-cement-oversupply\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Slightly less cement oversupply\" \/>\n<meta property=\"og:description\" content=\"Local cement production is on course to easily outstrip demand in 2021 despite production cuts being introduced in July to ease the years-long supply glut. 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According to Aviles, the price of natgas should be USD 1.7 per mmBtu \u2014 which is much lower than the current\u2026","rel":"","context":"In "Industry"","block_context":{"text":"Industry","link":"https:\/\/enterpriseam.com\/egypt\/category\/industry\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/310.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547276,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/jimmy-khan-succeeds-solomon-baumgartner-aviles-as-lafarge-egypt-ceo\/","url_meta":{"origin":555674,"position":2},"title":"Jimmy Khan succeeds Solomon Baumgartner Aviles as Lafarge Egypt CEO","author":"enterpriseam admin","date":"15 June 2022","format":false,"excerpt":"Lafarge has appointed Jimmy Khan (LinkedIn) as the company\u2019s new Egypt CEO, succeeding Solomon Baumgartner Aviles (My Morning Routine), according to a statement (pdf). Khan has been the CEO of Lafarge Zambia since 2018, and previously served as CEO for Lafarge Mauritius and Seychelles. He has worked with the group\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565872,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/10\/cement-producers-might-have-to-cut-production-to-finally-fix-the-supply-glut\/","url_meta":{"origin":555674,"position":3},"title":"Cement producers might have to cut production to finally fix the supply glut","author":"enterpriseam admin","date":"10 May 2021","format":false,"excerpt":"Cement producers could be asked to cut production by at least 10%, as part of a proposal put forward by the Egyptian government to reduce the supply glut that is crippling the industry, two unnamed industry executives and a senior source told Reuters. What\u2019s the plan? Cement producers would reduce\u2026","rel":"","context":"In "SPEED ROUND: BASIC MATERIALS"","block_context":{"text":"SPEED ROUND: BASIC MATERIALS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-basic-materials\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566665,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/06\/cement-industry-is-finally-getting-a-lifeline\/","url_meta":{"origin":555674,"position":4},"title":"Cement industry is finally getting a lifeline","author":"enterpriseam admin","date":"6 July 2021","format":false,"excerpt":"Is the government finally stepping in to rescue the cement industry? Cement producers were given the greenlight to cut production by at least 10% by the Egyptian Competition Authority (ECA), according to documents seen by Reuters. 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