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Monday, June 7, 2010

Asia's steel demand seen up 8-9%: Tata Steel

Strong economic growth could boost steel demand in Asia by 9 per cent annually in the coming years, an executive with Tata Steel said on Monday.

"After all the problems with recession, Asia has come back very strong," and economies in the region were expanding at between 4-6 per cent, Hemant Nerurkar, managing director of the world's No. 8 steelmaker, told Reuters in an interview.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jul 17
23:00 Fed's Cook speech 2
Friday, Jul 18
01:30 Total Net TIC Flows 1 $311.1B $-14.6B Revised from $-14.2B
01:30 Net Long-Term TIC Flows 1 $259.4B $-8.2B Revised from $-7.8B
04:00 Fed's Waller speech 2
08:30 Credit Card Spending (YoY) 1 0.9% 2.0% Revised from 2.2%
17:30 Fed's Waller speech 2
18:00 Housing Starts (MoM) 2 1.300M 1.256M
18:00 Building Permits (MoM) 2 1.390M 1.394M Revised from 1.393M
18:00 Housing Starts Change 1 -9.8%
18:00 Building Permits Change 1 -2%
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