Riyadh, August 31: Saudi cement sales rose 33.4 percent in July with some producers reporting their highest-ever monthly sales, NCB Capital said Sunday.
The Saudi investment company said total sales stood at 3.45 mt for the month, compared to 2.66 mt for the same period last year. It said sales rose 4.7 percent month-on-month.
Yamama Cement and Saudi Cement reported their highest-ever monthly sales in July, NCBC said. It said cement exports rose 56 percent to 109,000 tonnes in July, compared to 70,000 tonnes a year ago, boosted mainly by Northern Region Cement Co (NRCC).
Month-on-month cement exports rose just 2 percent, it added.
NCBC said the jump in exports was primarily due to selective approvals granted to certain cement companies by the government. NRCC and Tabuk Cement – along with Saudi Cement and Eastern Province Cement – have been given permission to resume exports, it said.
NCBC said cement firms produced 3.61 mt of cement in July, up 34.6 percent on the same period last year and an 8 percent increase over the previous month.
–Agencies–