India's steel consumption surges

Steel consumption in India during April- May 200 reached 8.2 million tons, registering an increase of 6% year over year, compared to the consumption of 7.76 million tons during April and May of 2008, according to Industrial Info Resources. For the same period, do mestic steel production rose 2% year over year from 9.02 million tons in April-May 2008 to 9.24 million tons in April-May 2009. Industrial Info Resources reports that the growth in domestic steel consumption has been attributed to a rise in demand from the automobile and construction sectors. Sales of locally manufactured cars have been rising with figures for May showing a growth of 2. 4% year over year. The construction sector is expected to account for 6% of the growth in the sale of steel this fiscal year, compared to 1.3% last year.Zoom Lebron XI 11