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Algeria cement, steel prices soar on strong demand - newspaper
05 March 2017
Cement and steel prices in Algeria have soared due to a surge in seasonal domestic demand, a newspaper in the North African Arab country said on Thursday.
A 50-kg cement bag was sold for between 900-1,200 dinars ($8.2-11) depending on quality while steel prices jumped to nearly 6,000 dinars ($55) per 100 kg in the local market, Arabic language newspaper El-Mihwar said.
"The prices of building materials, especially steel and cement, have hit one of their highest levels these days as better weather conditions have boosted construction activity and consequently led to a huge increase in demand," the report said, adding that a government decision to curb cement imports have also propped up local demand.
The paper quoted contractors as saying they would be hurt by the sharp rise in cement and steel prices.
"This increase will hamper many projects mainly in the housing sector at a time when most contractors are committed to completing and delivering their projects on time…failing to do so, they will have to pay a large fine for the delay," one contractor said.
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