May. 24, 2012 (China Knowledge) - China's cement output grew only 4% YoY in April this year, slowing from a 22.4% increase in the same month of last year, according to the latest statistics released by the National Development and Reform Commission
In the first four months, the country's cement output amounted to 591.68 million metric tons, 5.5% more than in the corresponding period of last year.
Last month, China's flat glass output fell 5.7% YoY, whereas it jumped 22% in April 2011. The output of flat glass totaled 238.45 million weight boxes in the first four months, up 0.5% YoY. The growth rate was 16.5 percentage points lower than that in the corresponding period of 2011.
The price of cement continued to fall in April. The average ex-factory price at major cement enterprises dropped RMB 0.4 per metric ton from March or RMB 15.3 per metric ton from a year earlier to RMB 363 per metric ton. At the end of last month, the cement inventory of these major cement enterprises had increased 27.3% YoY to 20.17 million metric tons.
The price of flat glass also saw drop last month, falling RMB 3 per weight box month on month to RMB 57.9 per weight box.
The building material industry realized RMB 56.37 billion in profit in the first quarter of this year, reflecting a decrease of 5.4% YoY. The profit of the cement sector plunged 60.6% YoY to RMB 5.55 billion. The flat glass sector suffered a loss of RMB 770 million in the period, compared a net profit of RMB 810 million in Q1 of 2011.