Saudi Arabia’s Ministry of Housing programs are the ley driver for the strong and continued demand for cement, as local cement sales jumped 14.2% year-on-year (YoY) in October 2020 to 4.72 million tons, NCB Capital said in a recent note.
Cement exports hit 225,000 tons in October, up from 184,000 tons in October 2019. Clinker exports rose to 476,000 tons, rising from 346,000 tons in October 2019.
On the other hand, the clinker stock decreased by 8% YoY to 39.3 million tons. Clinker and cement production rose by 12.1% and 13% month-on-month to 4.3 million tons and 5 million tons, respectively, NCB Capital added.
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NCB Cap Recommendations on Cement Producers Under Coverage |
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Southern Cement |
Neutral |
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Yamama Cement |
Neutral |
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Saudi Cement |
Neutral |
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Qassim Cement |
Neutral |
|
Yanbu Cement |
Overweight |
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Eastern Cement |
Neutral |
|
Arabian Cement |
Neutral |
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