2025, the demand for cement continued to weaken, but thanks to the large decline in coal prices, the production costs of cement enterprises decreased significantly. It is estimated that in the first three quarters of 2025, the total profit of pure cement business in the industry will be about 16-18 billion yuan. If the profits of overseas, aggregate and investment business are taken into account, the total profit will be about 21-23 billion yuan. Overall, in the first three quarters of 2025, the profits of the cement industry were significantly restored.
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