Castables are unshaped refractory materials.
They are mixed with water and placed by casting.
Conventional castables contain higher amount of calcium aluminate cement.
Low cement castables contain a reduced amount of cement.
Reducing cement content improves high-temperature properties.
It reduces the amount of low-melting phases formed during firing.
It also improves strength, refractoriness, and corrosion resistance.
In the given classification of the question, the cement content in low cement castables is:
\[
\text{Not more than }2\%.
\]
Therefore, the correct option is:
\[
\text{Not more than }2\%.
\]