Riyadh – Mubasher: Saudi cement sector’s sales are expected to grow in the fourth quarter of 2016, compared to the previous quarter, according to AlJazira Capital.
The investment firm attributed the increase in sales to the seasonal effect resembled in Ramadan month and Eid vacations in June and July, which resulted in a slowdown in construction works.
Clinker inventory reached its highest levels in August, due to lower demand and expansions in the production capacity since the start of 2016, according to a report by Yamama Cement.
The cement company said that the Saudi cement firms’ production fell 10.4% in August, which resulted in a 9.93% decrease in sales.
