Gadchiroli pitched as Maharashtra’s future green steel hub India set to drive next global steel demand wave Italy crude steel output rises 3.1% in May Green steel progress remains slow worldwide
Steel rebar futures slipped toward CNY 3,200 per ton, retreating from recent nine-month highs as traders turned cautious ahead of a seasonal slowdown in demand. Softer downstream consumption, especially in China’s construction sector, has started weighing on market sentiment.
Industry expectations suggest construction steel prices in China may remain under pressure this month as supply-demand fundamentals weaken. Long steel output is also likely to rise, supported by better margins for domestic mills, which could add further pressure if end-user demand slows during the wet season in southern China.
However, stronger-than-expected Chinese economic data offered some support. Record exports in April and stockpiling activity helped limit deeper losses, though concerns over higher input costs and global uncertainty continue to influence steel market trends.
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