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MENAFN - Arab News - 19/04/2012

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(MENAFN - Arab News) Cement sales in March 2012 grew by 12.6 percent to reach 4.9 million tons, a record high for monthly sales, based on a new report issued by NCB Capital on Wednesday.

According to the report, clinker production grew by 10 percent to reach 4.0 million tons, another record. However, clinker stocks declined sharply by 44.4 percent to reach 5.02 million tons, the lowest level since August 2008.

"Domestic cement sales rose 12.6 percent year to year and 10.2 percent month to month to 4.89 million tons in Mar-12. Local clinker sales rose to 135,000 tons against 10,000 tons in February 2012," the report said.

On the other hand, "cement exports dropped 64.5 percent year to year and 17.7 percent month to month to 65,000 tons in March 2012," the report added.

Cement production increased 12.6 percent year to year to 5.10 million tons in March 2012. Clinker production also increased by 10.0 percent year to year to 4.02 million tons.

The domestic cement market share of the unlisted companies decreased by 1.00 percent month to month to 18.4 percent; market share including exports and clinker sales also decreased by 1.30 percent month to month to 17.7 percent.

The Kingdom has 13 cement companies with an estimated annual cement production capacity of 52 million tons. In March 2012, total cement sales in the Kingdom stood at 4.89 million tons versus 4.35 million tons in March 2011 and 4.44 million tons in February 2012.

Domestic clinker sales came to 135,000 tons in March 2012 against no sales in March 2011; it surged to135,000 tons in March 2012 from 10,000 tons in February 2012. In March 2012, cement exports stood at 65,000 tons from 79,000 tons in February 2012, a drop of 17.7 percent month to month. No company reported clinker exports for March 2012. Two companies, Saudi Cement and Eastern Cement, exported cement during the month.

In March 2012, domestic sales of cement grew by 12.6 percent year to year to 4.89 million tons. The four private companies saw a 3.8 percent year to year increase in domestic cement sales, while the listed firms reported an increase of 14.7 percent year to year.

On a month-to-month basis, domestic cement sales increased by 10.2 percent compared to the 4.44 million tons in February 2012. Apart from Aljouf Cement, all companies reported an increase on a month-to-month basis. Among the listed companies, Yanbu Cement reported the highest month-to-month increase of 68.6 percent, followed by Tabuk Cement and Arabian Cement with 31.0 percent and 13.6 percent growth respectively.

On a year-to-year basis, Northern Cement reported the highest increase of 121.7 percent, followed by Saudi Cement and Yanbu Cement with 41.5 percent and 25.5 percent increase respectively. Najran Cement, Aljouf Cement, Qassim Cement and Tabuk Cement reported a year to year decline of 21.3 percent, 6.0 percent, 5.1 percent and 1.3 percent respectively in domestic sales.

The Kingdom's cement exports decreased 17.7 percent month to month to 65,000 tons in March 2012. On a year-to-year basis it decreased 64.5 percent from 183,000 tons in March 2011 due to the export ban which only excludes sales to Bahrain. The year-to-year decrease was due to lower exports Saudi Cement which fell 32.9 percent. None of the companies reported exports in clinker for March 2012.

In March 2012, Saudi Cement and Eastern Province Cement exported cement. Total exports decreased 72.6 percent year to year. Saudi Cement reported the highest decline at 32.9 percent, while Eastern Cement's exports increased by 16.7 percent on year-to-year basis.

Exports decreased by 17.7 percent on month-to-month basis. Only Eastern Cement reported an increase of 16.7 percent, Eastern Cement reported a decline in exports by 10.9 percent.

Saudi Arabia produced 5.10 million tons of cement in March 2012, up 12.6 percent year-to-year and 16.7 percent month-to-month basis respectively. On a year-to-year basis, among listed players, Saudi Cement reported the highest increase of 41.1 percent followed by Yanbu Cement, Arabian Cement and Yamamah Cement with 33.6 percent 27.7 percent and 24.6 percent increase respectively.

On a month-to-month basis, apart from Aljouf Cement which reported a decrease of 23.1 percent, all cement companies reported an increase in production, with Yanbu Cement reporting the highest increase of 87.6 percent. City Cement did not report an increase in production on month-to-month basis.

Clinker production was up 10.0 percent year-to-year and 22.3 percent month-to-month in March 2012. Among listed players, Southern Cement reported the highest increase in production of 44.8 percent year to year. On a month-to-month basis, Yanbu Cement reported the highest increase at 61.3 percent, followed by Yamamah Cement at 58.3 percent.

Clinker stock at the manufacturer level decreased 19.7 percent month-to-month and 44.4 percent year-to-year to 5.02 million tons. Cement stock increased 26.0 percent month-to-month and 11.6 percent year-to-year during March 2012.

Clinker stock as a percentage of monthly sales decreased to 101 percent in March 2012 compared to 138 percent in February 2012 and 199 percent in March 2011. Company-wise, Qassim Cement held the lowest stock percentage at 27 percent of March 2012 sales. On the other hand, among the listed companies (excluding Al-Jouf), Tabuk Cement held the highest clinker stock percentage at 216 percent of March 2012 sales.


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