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Indian steel industry doing well amidst global slide

 Indian steel industry is still operating at 90% capacity utilization, compared to global steel majors, who operate at around 50% capacities with piling inventories. Though there is 5% anti-dumping duty on imported steel, Indian steel companies have reduced the steel prices at par with global prices to remain competitive with cheaper China imports, the margins have come down. Global steel demand is likely to come down by 12% this year and 16% for 2010. Indian companies may survive this through low employee costs



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