Steel and cement prices rise in January

The prices of steel and Portland cement rose in January by around 2 percent and 11 percent, respectively, compared to December 2011.

In its monthly report on construction material pricing issued Wednesday, the Central Agency for Public Mobilization and Statistics said the price of regular Portland cement rose from LE22.93 to LE25.48 per 50 kg bag.  

The price of steel rose by 2.46 percent, from LE4683 in December to LE4798 per ton.

Meanwhile, the prices of sand and gravel dropped by less than 0.5 percent each.

Compared to prices in the same month last year, the average steel price rose by 5.59 percent this January, while Portland cement prices dropped 6.67 percent.

Prime Minister Kamal al-Ganzouri announced last month that the government was injecting LE2.5 billion into construction companies to create more jobs and revitalize the sector.

Translated from Al-Masry al-Youm

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