Japan's largest rebar producer Kyoei Steel will cut its rebar production by about 20 percent during the remainder of July and in August due to delays in construction projects amid workforce shortages and given the sluggish demand during the summer months, according to local media reports.
The company will reduce production at its four domestic sites, including its Hirakata plant, and will consider the option to cut production further if necessary. Also, production costs of rebars have been increasing as a result of rising fuel and labor costs, which will lead to a price increase by the producer in September.
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Vietnam Steel by Hoa Sen Group
