Cement sales in Saudi Arabia increased 15.4% in November

The sales of cement companies in Saudi Arabia increased by 15.4% during November 2020, compared to the same month in 2019.

According to Arabia Net, sales of Saudi cement companies during the past month amounted to 4.93 million tons, compared to 4.27 million tons in the same month of 2019.

Cement sales include local deliveries and exports, for 17 companies, according to the report of Yamama Cement Company.

and the South Cement Company took the lead in the amount of sales during November 2020 by 710 thousand tons, an increase of 15.8% over the same month of 2019, followed by Saudi Cement Company by about 589 thousand Tonnes last November, compared to an increase of 20.2% over November 2019.

cement production

Saudi cement companies' production increased by 16.2% in November 2020, to reach 5.008 million tons, compared to 4.308 million tons in November 2019.

South Cement also topped the highest production by about 702 thousand tons in November 2020, an increase of 15.7% over the same month of 2019, followed by Saudi Cement Company by about 609 thousand Tons in November 2020, compared to 607 thousand tons in November 2019.

cement stocks of companies increased by 11.9% in November 2020, to record 1.366 million tons, compared to 1.221 million tons in November 2019.

positive sector outlook

The increase in cement sales comes at a time when Al-Jazira Capital, according to a recent report, maintained its positive outlook for the Saudi cement sector, based on expectations of high demand for residential projects due to the increase in mortgage loans and government projects.

and stated that the rise in cement prices contributed to the improvement of the fundamentals of the sector, which is expected to record an average of 198.9 riyals per ton in 2020.

She explained that the Saudi cement sector has witnessed exceptional growth since the beginning of the year 2019, supported by the increase in exports and the improvement in local demand as a result of the increase in residential construction works after it declined sharply as a result of the spread of the Corona pandemic Al-Jazira Capital expected continued growth in the sector with the support of programs to achieve the Kingdom's vision in the housing sector.