The Drop In Steel Prices In May Led To Further Declines In Building Materials Output

The average weekly rebar output stood at 2.7 million mt in May, down 8.4% month-on-month. And the weekly average consumption stood at 3.07 million mt, down 3.4% month-on-month.

The decline in rebar production in May was mainly due to the decline in steel prices that led to steel mills reducing production.

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