Saudi Arabia has 22.5mn tonnes of cement worth US$1.41bn stockpiled

Saudi Arabian cement stockpiles are said to have grown to 22.5 million tonnes worth SAR 5.28 billion (US$ 1.41bn), with producers having to cut output by 5-10%. National cement committee chairman Jihad al-Rasheed said that production has risen 5% to 60 million tonnes while demand is 57 million tonnes. An industry source is reported by Saudi media saying that demand has fallen in recent months, particularly in Ramadan. According to al-Rasheed, the government is still considering lifting the cement export ban.