Jul. 27, 2012 (China Knowledge) - The building material industry realized RMB 108.4 billion in profit in the first five months of this year, reflecting a decrease of 9.7% YoY, according the latest statistics released by the National Development and Reform Commission
The profit of the cement sector plunged 56.8% YoY to RMB 15.3 billion. The flat glass sector suffered a loss of RMB 350 million in the period, compared a net profit of RMB 2.6 billion in the first five months of 2011.
In the first half, the country's cement output grew 5.5% YoY to 994.16 million metric tons, slowing from a 19.6% growth in H1 of 2011.
The output of flat glass totaled 366.05 million weight boxes in the first six months, down 3.1% YoY, compared with a 19.1% growth in the corresponding period of 2011.
The price of cement continued to fall in June. The average ex-factory price at major cement enterprises dropped RMB 2.5 per metric ton from the previous month or RMB 33.9 per metric ton from a year earlier to RMB 358 per metric ton. At the end of last month, the cement inventory of these major cement enterprises had increased 15.1% YoY to 19.70 million metric tons.
The price of flat glass continued to rebound last month, rising RMB 2.4 per weight box MoM to RMB 60.5 per weight box. At the end of June, the country's flat glass inventory had risen 26.1% from a year earlier to 44.75 million metric tons.