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Chart of the day | In a pickle

Chart of the day | In a pickle
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First Published: Tue, Nov 22 2011. 10 18 PM IST

Yogesh Kumar/Mint
Yogesh Kumar/Mint
Updated: Tue, Nov 22 2011. 10 18 PM IST
Steel production is decelerating globally, with output in October rising by 6.2% year-on-year; its lowest growth rate since June, but higher than 2011’s low of 4.2% in May. Europe’s economic problems have affected demand, and China’s slower growth has seen steel output fall sequentially since August. India’s steel output, too, has been relatively flat during this period.
Yogesh Kumar/Mint
Slower production has meant that global capacity utilization is down at 76.5% in October compared with 79.1% in September and a high of 82.8% in June. A return in global consumer confidence, which will contribute to growth in end-use sectors such as automobiles and construction, could revive the demand for steel.
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First Published: Tue, Nov 22 2011. 10 18 PM IST