Saudi Arabia to reimpose cement export fees

After two-years of freezing cement and steel export fees, Saudi Arabia will begin levying fees on cement leaving the country in a bid to prop up falling oil revenues.

The ban on cement exports from Saudi Arabia was lifted in mid-2017 when domestic demand slumped and cement stocks rose. Fees on cement exports were cut by 50 per cent over the last two years.

However, Trade and Industry Ministry spokesman, Abdul Rahman Hussein, said: "The Ministry will shortly resume levying fees on steel and cement exports after the two-year freeze ends."

A total of 25Mt of cement have been exported since the ban in mid-2017 with the main destinations being Bahrain and other neighbouring Arab countries, said Hellenic Shipping News.