BEIJING, May 4 (Xinhua)-- In the first quarter of 2018, the total profit of the cement industry in China hit a record high to reach 19.04 billion yuan, an increase of 352.27 percent on year, the Xinhua-run China Securities Journal reported on Friday.
Under the background of supply-side reform, China’s cement industry have made great progress via industrial self-regulation, shift peak production and regional coordination. The cement price is expected to continue rising in the second quarter which is the peak season for cement demand. It is expected to remain high throughout the year.
Data from the National Bureau of Statistics showed that the country’s cumulative cement output reached 376 million tonnes (metric tons) in Q1 , a decrease of 4.51 percent year on year. From January to March, the cumulative clinker cement production in the country totaled 247 million tonnes, down 1.67 percent year on year.
Financial reports showed most of the listed companies in cement industry witnessed substantial growth in their net profits. Only five listed companies, including BBMG Co.,Ltd, Tangshan Jidong Cement Co.,Ltd, Gansu Qilianshan Cement Group, Co., Ltd, Ningxia Building Materials Group and Qingsong Building Materials incurred net losses during the period. (Edited by Ma Xin, maxin11@xinhua.org )
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