Riyadh-Mubasher: Total cement sales in Saudi Arabia increased 26% year-on-year and 18% month-on-month to 5.1 million tonnes in October, Al-Rajhi Capital stated citing the latest data released by Yamama Cement.

The big jump in sales volume could be attributed to the Hajj season, which has largely shifted to Q3.

Total inventory stood at 24.2 million tonnes, representing 41% of last 12 months sales.

Inventory has grown 9% y-o-y and was flat m-o-m, the research firm said.

Cement production in the kingdom stood at 5.2 million tonnes in October, up 22% y-o-y and 21% m-o-m.

For the remaining weeks of 2015, Al-Rajhi Capital expects cement demand to remain modest.

The research firm is 'Overweight' on Southern Province, Yanbu and Saudi Cement.