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Poor infra growth pulls down steel demand

Poor infra growth pulls down steel demand

The tapering demand from sectors such as power, infrastructure and real estate affected the demand for steel. Growth in steel production moderated to 6.1 per cent in May compared to 9 per cent in the same period last year. The growth halved to 5.5 per cent (10.9 per cent) between April and May. Weighed down by the supply glut, cement production registered a fall of
2.3 per cent in May compared to 8.6 per cent last year.

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