Cement sales in Saudi Arabia surged by 12.5% to 2.92 million tonnes in April 2024, compared to 2.60 million tonnes a year ago, despite 11 days of Ramadan, Aljazira Capital said in a report.

Exports reached 554,000 tonnes last month, down 30% from 790,000 tonnes in the same month last year.

Clinker inventories stood at 43.4 million tonnes in April, rising 17.9% year-on-year (YoY) and 3% month-on-month, recording the highest level ever in the sector.

The total utilisation rate of the cement sector in the Kingdom stood at 74.9% last month, declining 46.1 basis points YoY.

The sales-clinker production ratio hit 76% in April, Aljazira Capital said.

Read More: Ramadan impacts Saudi cement exports, domestic sales in March: Aljazira Capital

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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