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Saudi Arabia Cement Sector

Source: NCB Capital

Domestic demand continues uptrend

Cement dispatches in the local market moved up again in July-09, with most companies reporting an increase in sales. Northern Region Cement Company contributed to 38% of total exports by KSA cement manufacturers

Sales: Cement dispatches in the Kingdom stood at 3.45mt in July-09, increasing 33.4% YoY and 4.7% MoM. Yamama Cement and Saudi Cement continued the trend reporting their highest-ever monthly sales in July-09. In addition, three unlisted companies reported their highest-ever monthly domestic sales in July-09

Exports: Cement exports remained above the 100,000-ton mark during the month. Northern Region Cement, which received approvals in May-09, contributed significantly

Stock: Clinker stock as a percentage of cement sales declined to 257% in July-09 from 268% in June-09. On the other hand, cement stock as a percentage of sales increased to 20.0% from 17.6%, over the same period

Market shares: In July-09, newly established private players cornered a 16.3% domestic market share, with Riyadh Cement reporting highest growth in market share among all the 12 players. Amongst listed companies only, Qassim Cement and Eastern Cement depicted an increase in their market share MoM

Industry snapshot
The Kingdom of Saudi Arabia (KSA) has 12 cement companies with an estimated annual production capacity of 49mt.

In July-09, total dispatches, including exports, stood at 3.56mt versus 3.40mt in June-09 and 3.47mt in May-09. Dispatches in July-08 were 2.66mt.

In July-09, exports remained above 100,000–ton mark for the second consecutive month, since the export ban was enforced. Northern Cement exported 41,000 tons of cement and 1,000 tons of clinker during the month.

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