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Building materials need ebbs on weak real estate
CHINA’S building materials sector continued to slow as the property market remained sluggish, latest statistics from the country’s top economic planner indicated.
Cement output rose 1.9 percent year on year to 2.3 billion tons in the first 11 months, pulling back 7.3 percentage points from the rate seen in the same period of last year, the National Development and Reform Commission said. Output of flat glass gained 2.4 percent, retreating 9.2 percentage points from a year earlier.
Meanwhile, the prices of cement and flat glasses dropped in November. Compared with a month earlier, the factory price of cement edged down 0.5 percent, and flat glass moved down 4.2 percent in November.
The data come as the property sector, a major consumer of cement and flat glass, continues to cool despite the support of government policy adjustments.
New home prices in 67 of 70 major cities reported month-on-month drops in November, earlier data showed.
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