Aug. 23, 2012 (China Knowledge) - The building material industry realized RMB 140.3 billion in profit in the first half of this year, reflecting a decrease of 9% YoY, according the latest statistics released by the National Development and Reform Commission
The profit of the cement sector plunged 51.4% YoY to RMB 22.3 billion in H1. The flat glass sector suffered a loss of RMB 490 million in the period, compared a net profit of RMB 2.66 billion in the first six months of 2011.
In the first seven months, the country's cement output grew 5.3% YoY to 1.18 trillion metric tons, 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 RMB 3.3 per metric ton from the previous month or RMB 41 per metric ton from a year earlier to RMB 354.7 per metric ton. At the end of last month, the cement inventory of these major cement enterprises had increased 16.3% YoY to 19.17 million metric tons.
The price of flat glass dropped last month, declining RMB 0.8 MoM or RMB 8.1 per weight box YoY to RMB 59.7 per weight box. At the end of July, the country's flat glass inventory had risen 24.5% from a year earlier to 46.62 million metric tons.