In August, as high temperatures and other adverse weather factors eased, market demand in the construction and related manufacturing sectors rebounded. Building materials production accelerated, with products such as mineral fibers, composite materials, and concrete machinery maintaining rapid output growth. Ex-factory prices of building materials fluctuated downward, while key industry economic indicators and export values continued to show a narrowing decline.
1. Steady Acceleration in Building Materials Production
According to data from the National Bureau of Statistics, the added value of the non-metallic mineral products industry in August increased by 0.5% year-on-year, marking a return to growth after three consecutive months of decline.
Among 31 key monitored building materials products, 8 products recorded year-on-year growth. Output of glass fiber yarn, glass fiber reinforced plastic (FRP) products, and concrete machinery all increased by more than 10%. Lime production reversed from decline to growth, while laminated glass, glass fiber cloth, FRP products, gypsum board, and concrete machinery saw faster growth than in the previous month. Output of cement and flat glass decreased by 6.2% and 2.0% year-on-year, respectively.
From January to August, the added value of the non-metallic mineral products industry declined 0.3% year-on-year, a 0.2 percentage point narrower drop than in the January–July period. Among 31 key products, 10 products saw year-on-year output growth. FRP products grew by over 20%; laminated glass, glass fiber yarn, glass fiber cloth, and kaolin products grew by more than 5%. Cement and flat glass output declined 4.8% and 4.5%, respectively. Compared with January–July, gypsum board and concrete machinery output turned from decline to growth; production of glass fiber yarn, glass fiber cloth, and FRP products accelerated; while output declines narrowed for flat glass, tempered glass, ceramic tiles, asphalt waterproof membranes, and fluorite.
2. Fluctuating but Declining Ex-Factory Prices
Since the beginning of the year, ex-factory prices of building materials have shown a steady downward trend. In August, the Producer Price Index (PPI) for the building materials industry stood at 85.9 (December 2020 = 100), down 1.4% month-on-month and 5.5% year-on-year.
Prices rose month-on-month for insulation materials and fiber-reinforced plastics, but declined for cement, cement products, waterproof materials, lightweight building materials, wall materials, lime and gypsum, clay and sand & gravel mining, building stone, architectural glass, mineral fibers and composites, sanitary ceramics, and non-metallic minerals.
From January to August, ex-factory prices of building materials products declined 3.9% year-on-year, with the drop widening by 0.2 percentage points compared with January–July. Price declines were more pronounced for cement, waterproof materials, and flat glass, while prices in clay and sand & gravel mining, building stone, and mineral fiber and composite materials industries remained above last year’s levels.
3. Narrowing Profit Decline
From January to August, operating revenue of large-scale building materials enterprises decreased 7.3% year-on-year, while total profits fell 8.5%, narrowing by 0.5 and 3.6 percentage points respectively compared with the previous month.
Among major sub-sectors, insulation materials, mineral fibers and composites, and non-metallic mineral mining recorded revenue growth, with the latter exceeding 10%. Total profits increased year-on-year in five sectors: cement, other new materials, lime and gypsum manufacturing, building stone quarrying, and mineral fibers and composites. However, three sub-sectors—fiber cement products, flat glass, and non-metallic mineral products—remained in loss.
4. Decline in Fixed Asset Investment
According to the National Bureau of Statistics, from January to August, fixed asset investment in the non-metallic mineral mining industry fell 10.7% year-on-year, and in the non-metallic mineral products industry decreased 5.8%, down 37.8 and 9.7 percentage points respectively from the same period last year.
Private investment in non-metallic mineral mining rose 11.0% year-on-year, but slowed by 1.9 percentage points from last year, while private investment in non-metallic mineral products fell 7.0%, a 13.3 percentage point larger drop year-on-year.
5. Exports Increased Year-on-Year, Imports Declined
In August, exports of building materials reached US$2.63 billion, up 0.3% year-on-year. From January to August, exports of building materials and non-metallic mineral products totaled US$22.67 billion, down 6.4% year-on-year, though the decline narrowed by 0.8 percentage points from January–July. After adjusting for price factors, actual export volume increased 5.9%.
Exports to the United States, South Korea, Hong Kong (China), and Vietnam decreased year-on-year, while exports to India, Singapore, the UAE, and Saudi Arabia grew. Products with notable export growth included ultra-thin glass, display substrates, mobile phone cover glass, tempered glass, glass fiber fabrics, marble products, cement clinker, glass fiber raw balls, carbon fiber, basalt fiber and products, sanitary ceramics, limestone, and crystalline graphite.
In August, imports of building materials totaled US$1.32 billion, down 27.2% year-on-year, with a wider decline than in the previous month. From January to August, imports of building materials and non-metallic minerals amounted to US$10.48 billion, a 31.3% year-on-year decrease, narrowing by 0.6 percentage points compared with the previous month. Products with faster import growth included fluorite, glass fibers and products, silica and quartz sand, carbon fibers and products, granite blocks, concrete precast components, granite slabs, graphite, asbestos yarn, and asbestos textiles.
Editor: Zhang Hanwen
Reviewer: Shen Yulu, Li Yuemei
