Southern Cement, Al Kathiri Hit 52-Week Lows on June 17

TASI-listed Southern Cement and Al Kathiri shares fell today, June 17, to their lowest levels in 52 weeks, data compiled by Argaam showed.

The two stocks tracked separate downward paths. Southern Cement, a major Saudi clinker and cement producer, has been under pressure from a sector-wide oversupply that has weighed on prices and margins for months. The company's shares slid to a new low, extending a decline that began in late 2024 as construction demand softened and inventory levels rose across the kingdom.

Al Kathiri, a smaller player in the building materials space, also touched a fresh 52-week trough. The stock has lost ground steadily since early this year, with no single catalyst driving the latest leg lower. Trading volumes on both names remained thin, typical for mid-cap Saudi equities outside the quarterly reporting cycle.

The broader TASI index was mixed on the session, with gains in petrochemicals and banking offset by weakness in cement and real estate. Southern Cement and Al Kathiri were among the worst performers on the day.

For Southern Cement, the next scheduled catalyst is the second-quarter earnings release, due in late July. Analysts at several Riyadh-based brokerages have trimmed their price targets on the stock in recent weeks, citing the prolonged demand slump and elevated capacity in the sector. Al Kathiri faces a similar earnings event, though the company's smaller market cap means it draws less analyst coverage.

Neither company has issued a statement on the share price moves. Saudi exchange rules require disclosure only when a stock moves more than 10% in a single session, a threshold neither name crossed today.