Saudi Arabia reported 11% annual growth in cement demand between January and May 2020 compared to the same period of 2019, according to Al Rajhi Capital.
Cement bags in a factory in Jeddah, Saudi Arabia. Pic - Laarow ID 187851132 Dreamstime.com
Qassim Cement and Yanbu Cement are said to have seen 21% and 18% growth respectively in cement volumes between April 2020 and May 2020, while Arabian Cement (-2%) and Saudi Cement (-4%) posted declines.
On a quarterly basis, year-on-year cement volumes fell by nearly half. The Saudi Arabian cement sector is forecast to record 10% growth in cement demand in H1 2020.
