Riyadh Cement expects demand to rise 10% in Q1 2025: Report
Saudi-listed Riyadh Cement expects cement demand in Saudi Arabia to increase by 10 per cent year-on-year (YoY) in the first quarter of 2025, according to a news report.
Demand for cement rose more than 10 per cent YoY in the fourth quarter of 2024, supported by strong demand from major projects in Riyadh, Argaam, an Arabic financial portal reported, citing CEO Shoeil Al-Ayed.
The average selling price during the fourth quarter rose 7 per cent quarter-on-quarter and 31 per cent YoY to SAR 200 per tonne, thanks to improved market conditions and stability of prices, the CEO said.
The company holds a market share of 6.7 per cent by the end of 2024, the report said.
(Editing by Anoop Menon)
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