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Indian steel demand rebounds on increased car sales

15 Sep 2020 15:39 reported by Jamie Yen

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The manufacturing activities in India had gradually resumed after the cancellation of the blockade, which pushed the sales of automobiles and the demand for steel to grow stronger.

The retail car sales had been boosted obviously and it showed that the impact of COVID-19 on India's auto-market had slowed down. According to August statistics, the two main automobile manufacturers in India, Maruti Suzuki and Hyundai Motors, both had increased sales in India by 21.3% and 20% respectively.

With the subsidy of the Indian government to the suburban development and agriculture, the sales of tractors, small-scale commercial cars, and so on had all been rising in August.

The insiders expected that the car sales in the Indian market would continue to increase in coming October and November, which would directly drive India's demand for steel.

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