Saudi cement sales spike

Saudi cement sales have increased 31% year-on-year in January (NOAH SEELAM/AFP/Getty Images)

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Sales of cement in Saudi Arabia rose by 31% in January 2010, compared to the same month in 2009.

According to data from Argaam Business Information, sales totaled 3.75 million tons in the first month of this year, compared to 2.87 million tons in January 2009.

Information collated by the company included individual figures from 12 key cement producers in the Kingdom. Najran Cement was the biggest mover, enjoying a 159% increase in year-on-year sales. Madinah Cement and Northren Cement had the next biggest gains, with sales increasing 91% and 76% respectively.

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Yanbu Cement bucked the trend, with sales dropping by 16%.

Industry experts speculating on the causes of the spike suggest cement consumers are stockpiling the vital construction commodity, while prices are low.