Despite the ongoing coronavirus pandemic, the Saudi cement sector has reportedly seen a 33 per cent YoY average increase in cement market volumes during the 1Q20, according to an Al Rajhi Capital report.
Qassim Cement saw the highest growth at 53 per cent, followed by Yanbu Cement and Yamama Cement with rises of 43 and 38 per cent, respectively.
However, restrictions imposed by the government have resulted in project delays, which may directly impact cement demand and cause under-utilisation of capacities.
This factor, along with the Ramadan season, are expected to cause lower cement volumes mainly in April and May.
