Riadh – (Masaader News)
Saudi cement sales will continue to decline over the next few months due to weak sector fundamentals and seasonal impact, according to a report by Al Jazeera Capital.
“Inventory levels fell during April compared to the previous month, for the first time since June 2016,” the report added.
Cement shipments recorded a decline of 1.4% compared to the previous month and fell by 14.5% compared to the same month of the previous year due to continued weak demand for cement.
Sales of cement companies operating in Saudi Arabia reached 4.64 million tons in April 2017, compared to 5.43 million tons in April 2016, a decline of 14.53%, according to reports issued by Saudi cement companies.
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