Riyadh – Mubasher: Saudi cement sales will extend declines throughout the upcoming months, on the back of the weak fundamentals of the sector and the impact of seasonality, Aljazira Capital expected.
The research firm noted that inventory levels retreated in April month-on-month for the first time since June 2016.
Cement dispatches recorded a 1.4% fall month-on-month and a 14.5% decrease year-on-year, due to continued weak demand.
The northern region recorded the highest decline in dispatches, while the western region was the only region to show year-on-year growth, the report said.
