Domestic cement sales fell 8.4 percent year-on-year to 20.9 million tonnes in the first five months of 2022, according to a report by AlJazira Capital. On the other hand, cement exports dropped 20.8 percent year-on-year to 3.4 million tonnes.

Cement and clinker local sales for May 2022 stood at 3.7 million, compared to 3.4 million tonnes in May 2021, recording an increase of 7.8 percent. Exports stood at 534,000 tonnes, compared to 805,000 tonnes in May 2021, down 33.7 percent, the report stated.

Hail Cement and Yamama Cement recorded the highest year-on-year sales increases of 170.8 percent and 72.5 percent respectively, in May.

Clinker inventories stood at 36.05 million tones, rising  8.1 percent year-on-year and 4 percent month-on-month at the end of May 2022.

The total utilisation rate of the Saudi cement sector declined 67.4 percent in May 2022, compared to 74.7 percent in May 2021, AlJazira Capital report concluded.

(Writing by Senthil Palanisamy; Editing by Anoop Menon)

(anoop.menon@lseg.com)