Cement demand in Saudi Arabia has started to pick up following a lull due to the Coronavirus pandemic, with sales by local manufacturers exceeding their production in June, a newspaper reported on Thursday.
The 17 cement producers in the world’s largest oil exporter sold 4.4 million tonnes of cement in June, surpassing their monthly production, the Saudi Arabic language daily Okaz said, quoting reports by cement firms.
“Nine of the 17 companies reported a large increase in sales last month…the sales exceeded their production as they resorted to stock drawdown to meet growth in demand,” the paper said.
The report showed Tabuk Cement Company reported the highest increase in sales, which surpassed its output by 23 percent in June. Clinker production by the 17 companies swelled by around 7.5 percent to 4.5 million tonnes in June from 4.2 million tonnes in June 2021, it said.
(Writing by Nadim Kawach; Editing by Anoop Menon)