China Knowledge quoted according the latest statistics released by the National Development and Reform Commission, the building material industry realized CNY 140.3 billion in profit in the first half of this year reflecting a decrease of 9% YoY.

The profit of the cement sector plunged 51.4% YoY to CNY 22.3 billion in H1. The flat glass sector suffered a loss of CNY 490 million in the period, compared a net profit of CNY 2.66 billion in the first six months of 2011.

In the first seven months, the country cement output grew 5.3% YoY to 1.18 trillion tonnes slowing from a 19.2% growth in the same period of 2011. The output of flat glass totaled 423.53 million weight boxes in the first seven months down 3.2% YoY compared with a 19.7% growth in the corresponding period of 2011.

The price of cement continued to fall in July. The average ex-factory price at major cement enterprises dropped CNY 3.3 per ton from the previous month or CNY 41 per ton from a year earlier to CNY 354.7 per ton. At the end of last month, the cement inventory of these major cement enterprises had increased 16.3% YoY to 19.17 million tons.

Source - China Knowledge

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