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Steel-hungry India pushes global demand to record high

Southeast Asia also boosts production, but China loses momentum

A worker cuts iron rods in an industrial area of New Delhi. India is likely to drive global demand for steel as the Chinese market flattens.   © Reuters

TOKYO -- Global demand for steel materials is expected to rise to a second straight record this year, driven by robust manufacturing and construction activity in India and Southeast Asia.

Demand is projected to rise 1.8% to 1.61 billion tons in 2018, and 0.7% next year to another record of 1.62 billion tons, according to the Brussels-based World Steel Association.

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