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Consumption of automotive steel has dipped by 4 per cent with demand in the auto segment moving in the slow lane. Automotive steel accounts for around 12 per cent of total steel consumption, of which passenger vehicles comprise the major chunk.
“An 8 per cent drop in production volumes (average) in the auto segment in Q4 FY19 over Q4 FY18, resulted in a drop in automotive steel by four per cent,” Jayant Acharya, director, commercial and marketing, JSW Steel, said.
Sales have been sluggish post Diwali and has continued through the current financial year. In April, the overall passenger vehicle
