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In fact, I wouldn't bother with cement/prefabs/bricks until you are producing your own coal.
If your republic lacks coal though, then you may be better off just importing it.
The most expensive part here is not steel, but vehicles. You need many excavators and trucks. I spent more than 600K rubles for that.
By the end of 1965 coal became very expensive, but my coal mine was complete and I start getting fine profit again.
One light cable way is enough to get full coal supply. Cable way points are very cheap, so you can easy deliver coal from distant locations.
Construction good make very little money in comparison to their cost and to other industries. Whereas steel makes a huge amount.
If you have tight budget then cement is not worth as initial investment. Problem is that you need coal for the production and it is much better to get the coal industry first as it is more profitable especially in the long run as you will save a lot of money on imports.