Jun. 25, 2012 (China Knowledge) - China's cement output grew only 4.3% YoY in May this year, slowing from a 19.2% increase in the same month of last year, according to the latest statistics released by the National Development and Reform Commission
In the first five months, the country's cement output amounted to 793.98 million metric tons, 5% more than in the corresponding period of last year.
Last month, China's flat glass output fell 10.2% YoY, whereas it jumped 21.7% in May 2011. The output of flat glass totaled 298.28 million weight boxes in the first five months, down 1.7% YoY, compared with a 19.6% growth in the corresponding period of 2011.
The price of cement continued to fall in May. The average ex-factory price at major cement enterprises dropped RMB 2.5 per metric ton from April or RMB 26.5 per metric ton from a year earlier to RMB 360.5 per metric ton. At the end of last month, the cement inventory of these major cement enterprises had increased 14.1% YoY to 18.58 million metric tons.
The price of flat glass saw slight rebound last month, rising RMB 0.2 per weight box MoM to RMB 58.1 per weight box.
The building material industry realized RMB 81.3 billion in profit in the first four months of this year, reflecting a decrease of 7% YoY. The profit of the cement sector plunged 59.9% YoY to RMB 9.53 billion. The flat glass sector suffered a loss of RMB 130 million in the period, compared a net profit of RMB 2.35 billion in the first four months of 2011.