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China's cement industry sees profit growth

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World Cement,

The country's cement output stood at 1.69 billion t, up 6.9% y/y in the first 9 months, according to the Ministry of Industry and Information Technology (MIIT).

During this period, the sector garnered a total operating revenue of ¥719.9 billion (approximately US$102.2 billion) up 14.3% y/y, the MIIT said.

The sector's combined profit surged 25.3% y/y to reach ¥131.8 billion, with the profit growth outpacing that of the overall industrial sector by 27.4 percentage points.

Cement price saw continuous drops during the January – August period of 2019, with the August cement price index falling 6.3% from January. The cement industry has made progress in cutting overcapacity through deepening supply-side structural reform and will promote high-quality development in the future, according to the MIIT.

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China cement news