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German May steel production down by 48% YoY

AP reported that Germany's iron and steel industry saw production improve somewhat in May 2009 as compared to April, though the industry's production was still well below year ago output as the recession cut into overall industrial production.

Federal Statistical Office said that the country's metal industry saw a 55% YoY decline in the production of raw iron to 1.2 million tonnes in May, while raw steel production fell to 2.2 million tonnes, a 48% YoY decline as compared with May 2008.

The statistical office said however that, compared to April 2009, raw iron production in May was up more than 12% MoM, while raw steel production was nearly 16% MoM higher, indicating some turnaround in demand for basic materials.

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