In the first two months of 2019, the total profit of large building materials producers in China reached $6.7 billion. The profit of Chinese cement manufacturers amounted to 13.39 billion yuan, showing a year-on-year increase of 19.2%.
Production in Numbers
According to the results for January-February 2019, the total profit of large enterprises in China’s building materials industry reached 45.1 billion yuan ($6.7 billion). This is 3.2% more than in January-February 2018, according to the Ministry of Industry and Information Technology of China. In particular, in the first two months of this year, cement output in China reached 210 million tons, which is 0.5% more than in the same period last year. Sheet glass production increased by 7.8%, and ready-mixed concrete by 8.3%.
At the same time, the profit of the Chinese cement industry reached 13.39 billion yuan, up 19.2% year-on-year. For companies producing sheet glass, profits dropped by 97.9% to 10 million yuan, although exports of this product jumped by 95%.
Production in Numbers
According to the results for January-February 2019, the total profit of large enterprises in China’s building materials industry reached 45.1 billion yuan ($6.7 billion). This is 3.2% more than in January-February 2018, according to the Ministry of Industry and Information Technology of China. In particular, in the first two months of this year, cement output in China reached 210 million tons, which is 0.5% more than in the same period last year. Sheet glass production increased by 7.8%, and ready-mixed concrete by 8.3%.
At the same time, the profit of the Chinese cement industry reached 13.39 billion yuan, up 19.2% year-on-year. For companies producing sheet glass, profits dropped by 97.9% to 10 million yuan, although exports of this product jumped by 95%.
It was previously reported that in 2018, profits in China’s building materials sector reached 431.7 billion yuan ($64 billion), an increase of 43% compared to 2017. In particular, profits for Chinese cement manufacturers last year amounted to 154.6 billion yuan, more than double the previous year’s level. In 2018, China’s cement production reached 2.18 billion tons, which is 3% higher than the previous year. At the same time, cement prices in December alone increased by 10.6% year-on-year.
Source: ChinaPRO
Source: ChinaPRO