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Cement industry profits rise in April

China's cement industry in April saw profits hit a record monthly high due to tight supply, industry data showed. Profits in the cement industry totaled 14.7 billion yuan ($2.3 billion) in April, according to the China Cement Association. In the first four months of the year, profits reached 33.7 billion yuan, up 220 percent year-on-year. The profit surge came as the government reduced overcapacity in the sector and imposed production restrictions to fight air pollution, bringing cement supply down. In the January-April period, nationwide cement output fell 1.9 percent year-on-year to 584 million metric tons, according to the National Development and Reform Commission.