China eliminates 70 million tonnes of outdated cement capacity

Time:2019-07-26 09:28:19      Source: xinhuanet.com

China has phased out more than 70 million tonnes of outdated cement capacity as the country moved steadily to address structural imbalances in the bloated sector, industry data showed.

Helped by the capacity-cut drive, combined profit of the cement industry neared 80 billion yuan (about 11.64 billion U.S. dollars) during the January-June period, a record high, Chen Bolin, president of information platform Digital Cement, said at an industry forum on Wednesday.

Cement demand has gradually recovered. In the first half of the year, demand rose 5 percent year on year, according to Chen.

On the market outlook, Chen predicted retreating demand growth in the latter half of the year due to slower real estate investment, but industry profitability in 2019 will be better than last year.

For years, a wide range of industries in China, including steel, cement, aluminum, flat glass, and coal, have been running at overcapacity that had dragged economic growth.

Chinese authorities have called for continued efforts to prevent new capacities in the industries.

China's cement output in H1 this year stood at 1.04 billion tonnes, data from the Ministry of Industry and Information Technology showed.

Index RMB/t DoD Basis Date
Datong 5500 ex-mine 07-01
Shuozhou 5200 FOR 07-01
Ordos 5500 ex-mine 07-01
Yulin 6200 ex-mine 07-01
Liulin Low-sulphur ex-mine 07-01
Gujiao Low-sulphur FOR 07-01
Xingtai Low-sulphur ex-Factory 07-01
Yangquan PCI FOR 07-01
Index RMB/t WoW WoW% Date
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