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Germany June steel output down by 41pct YoY

<font face="Arial,sans-serif">Federal Statistical Office reported that German iron and steel output for June fell sharply as the world recession continued to cut into demand for the country's machinery and car exports. </font><font face="Arial,sans-serif">As per report, Germany's producers made 1.44 million tonnes of iron for June 2009, down by 45% YoY, while they made 2.5 million tonnes of steel, down by 41% YoY.</font>

<font face="Arial,sans-serif">For the January to June 2009 period, 47% less iron was produced and 44% less steel was produced than in the first six months of 2008. However, June production was higher compared with May. </font><font face="Arial,sans-serif">The office said that iron production was up by 22%, while steel production was 14% higher compared to the prior month.</font>

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