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FinancialNews


  • 19-08-21

    Saudi cement sales drops 20 percent in July

    (MENAFN)Saudi cement sales fell 20 percent in July even as the Kingdom is witnessing a renewal in its real estate sector in 2021 after the reduction of pandemic restrictions.

    Recent data issued by Yamama Cement Co showed that output from Saudi producers dropped 20 percent to 3.6 million tons in July, in comparison to 4.6 million tons in the previous year same time span.

    Led by Southern Cement, sales of 15 cement producers dropped 35 percent in comparison to the last year same time span followed by Umm Al-Qura Cement and Al-Safwa Cement decreasing 34 percent and 32 percent respectively.

    Argaam quoted Arabian Cement CEO Badr bin Osama Jawhar as saying that the cement markets in the Kingdom, in general, saw a drop of about 15 percent in the average selling price in comparison to the previous year.

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