BEIJING, May 14 (Xinhua) – China’s soda ash industry was expected to embark on a growth cycle, China Securities Journal reported on Monday.
Statistics showed that the country’s soda ash prices generally jumped over 20 percent from the second quarter of this year.
Insiders widely attributed the strong price hikes to soda ash manufactures’ extensive maintenance and a contraction of supply due to the industry’s reduction of overcapacity.
18 listed companies in the industry saw year-on-year net profit gains in the first quarter of 2018, accounting for nearly 60 percent of the total, data showed.
(Edited by Yang Yifan, yangyifan@xinhua.org)
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