Saudi cement companies reported a decline in domestic sales and exports in March 2023 due to higher Ramadan’s seasonal impact, Aljazira Capital said in a new report.

Exports fell 36 percent to 477,300 tonnes in March 2024, compared to 795,000 tonnes in March 2023.

Domestic sales stood at 3.58 million tonnes last month, down 13.7 percent from 4.22 million tonnes a year ago.

Ramadan occupied 21 days of March this year, compared to only nine days in March 2023.

Clinker inventories stood at 42.1 million tonnes in March, rising 19.7 percent year-on-year (YoY) and 3.5 percent month-on-month (MoM).

The total utilisation rate of the cement sector in the Kingdom stood at 75.4 percent last month, declining 75 basis points YoY.

The sales-clinker production ratio hit 75 percent in March, the report added.

Read more: Saudi cement exports fall 36% to 436,000 tonnes in February 2024 - Aljazira Capital

(Writing by D Madhura; Editing by Anoop Menon)


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