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China sees steady expansion in industrial raw material production

Updated: Dec 9,2018 6:57 AM     Xinhua

BEIJING — China’s raw material industry generated an aggregate profit of 190.04 billion yuan ($27.68 billion) in October, up 18.6 percent from the previous month, continuing the momentum of solid expansion, official data showed.

Metallurgy and nonferrous metals reported a profit of 52.19 billion yuan and 13.08 billion yuan respectively, up 11.1 percent and 39.9 percent from the previous month, according to data from the Ministry of Industry and Information Technology.

Petrochemicals and building materials posted 85.04 billion yuan and 39.73 billion yuan in profits, up 12 percent and 64.6 percent respectively.

The output of major industrial raw materials has climbed compared with the same period of last year, with crude steel rising 9.1 percent to 82.55 million tons and cement up 13.1 percent to 220.43 million tons.