China’s industrial profits hit a 3-year low, emulating aluminium extrusion sector. Can fiscal stimulus measures revive growth?
The National Bureau of Statistics has reported a steep monthly fall in China's industrial profits to a three-year low in September 2024 on account of several factors, such as sluggish demand and consumption, decreased product prices, processing fees upsurge, and high costs of raw materials. Speaking of industries, the aluminium downstream sector was no exception, particularly the industrial aluminium extrusion, due to the slow market in the building & construction sector.
Image Source: China Hongqiao Group
Among the major industries that drive the Chinese economy, building & construction plays a pivotal role. In 2023, the construction industry accounted for around 6.8 per cent of the country's GDP. However, the unprecedented downturn in the B&C sector, currently reeling from a wave of defaults and financial turmoil, has contributed to the bearish industrial earnings in many ways.
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