According to a report quoting Yamama Cement data, total cement sales in Saudi Arabia stood at 4.34Mt for the month of August, registering a 10.3 per cent decrease YoY. However, the figure was up 41 per cent on the previous month.
Total inventory reached a high of 26.35Mt, representing 45 per cent of the last 12 month's sales. Inventory grew 11.7 per cent YoY and five per cent on the previous month, according to an Al Rajhi Capital report.
For the month of August, cement production in the kingdom reached 4.3Mt, 10 per cent lower than than the figure registered in the same month last year. Cement demand is expected to remain modest for the remaining months of 2016.