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The cement industry’s coal inventories were depleting and in the event of a prolonged war, cement production might stop, unless alternative energy sources were made available, Bozay cautioned.
Turkey’s cement companies recently said that they would hike prices by Turkish lira (TRY) 150/tonne, citing rising costs. The announcement infuriated the construction firms.
“In January last year cement was TRY275/tonne and today it is already TRY650/tonne. With the announced hike, its price will rise to TRY800/tonne,” said Ahmet Celik, an executive at Sinpas REIT.
Higher cement costs would inevitably mean higher house prices, he noted. Scrap steel import prices have also boomed.
23 TURKEY Country Report March 2022 www.intellinews.com