Profit of Cement Manufacturing Industry Decreased with a Drop of 50%

According to BHI published by CBMCA and MOFCOM, profit of cement manufacturing industry decreased with a year-on-year drop of 50% during the first half year of 2012, while profit of sheet glass plunged more than 100% compared with last year. Reflecting the macro economic situation of home building materials market direction, the latest BHI show that total profit of cement manufacturing industry of 22.28 billion RMB, which drops 51.4% compared with last year. Total output of domestic sheet glass manufacturing enterprises is 366 million standard cases, appears year-on-year drop of 3.1%. Profit of sheet glass industry in the first half year drops 118.5% with loss amount of 490 million RMB, inventory of the industry is up to 44.75 million standard cases with increase of 26.1%. Situation of sheet glass industry also reflects construction and operating rate of real estate industry. Director of CBMCA, Meng Guoqiang said that recession of real estate industry increased market stagnant, inventory of the market keeps increasing. In addition, with sustained rainfall in most area of China, demand shortage of glass market escalated. Source: glassinchina