|China's building materials industry's profit down 9% in H1 to RMB 128 bln
The building material industry in China saw its gross profit decreased 9% year on year to RMB 128 billion in the first six months of this year, according to the latest statistics released by the National Development and Reform Commission.
From Jan to Jun, China's cement manufacturing industry realized RMB 9.3 billion in profit, reflecting a year on year decrease of 64%. Meanwhile, the profit of flat glass industry saw a year on year decrease of 64.8% to RMB 580 million.
China's cement and flat glass output went down 5.3% and 4.2% year on year to 1.08 billion tons and 400 million weight boxes in the first six months, respectively.
According to the statistics, the average ex-factory price at major cement enterprises decreased RMB 29 per ton from last year to RMB 270 per ton in Jul. While the factory-gate price of flat glass from China's key building materials enterprises went down RMB 5.4 per weight boxes from the year earlier.
In the first half of this year, China's fixed assets investment in building material industry grew 10.5% to RMB 685 billion.