China's cement industry sees profit growth
Published by Emily Thomas,
Deputy Editor
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.
This article was first published here.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/04112019/chinas-cement-industry-sees-profit-growth/
You might also like
Cemex to divest its operations in the Philippines
Cemex has announced that its subsidiary, Cemex Asia B.V., has signed an agreement with DACON Corporation, DMCI Holdings, Inc. and Semirara Mining & Power Corporation for the sale of its operations and assets in the Philippines.