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China Raw Materials Industry Reports 5.3% Growth in 1st 4 Months

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BEIJING, May&nbsp;25 -- China's raw material industries reported a 5.3-percent growth in industrial output over the past four months, buoyed by the government's stimulus package and growing domestic demand, the Ministry of Industry and Information Technology (MIIT) said here Friday. 
&nbsp;&nbsp;&nbsp; In April alone, the industrial output grew 7 percent, MIIT statistics showed. 
&nbsp;&nbsp;&nbsp; The nonferrous metal industry began to make profits because market prices were rising. From January to April, 71 major manufacturers reported a net loss of 490 million yuan (about 70 million U.S. dollars). But they registered profits of 1.73 billion yuan in March and 1.65 billion yuan in April. 
&nbsp;&nbsp;&nbsp; China's government this year has announced specific plans to support 10 industries, including nonferrous metal, steel, auto and shipping. 
&nbsp;&nbsp;&nbsp; The construction materials industry grew too. In past four months, the country's cement output rose 13 percent year on year. The growth was 3.1 percentage points larger than that of a year ago. 
&nbsp;&nbsp;&nbsp; Growth was also reported in the chemical industry with the output up 10.6 percent in April, a second month to score a double-digit growth. 
&nbsp;&nbsp;&nbsp; But the steel industry, trapped by overcapacity and oversupply, was in the red. The first four months saw 40 percent of the 72 major producers reported a net loss of 5.18 billion yuan. 
&nbsp;&nbsp;&nbsp; (Source: Xinhua)

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China Raw Materials Industry Reports 5.3% Growth in 1st 4 Months | Shanghai Non ferrous Metals

China Raw Materials Industry Reports 5.3% Growth in 1st 4 Months

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