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There Is Over Supply in the Steel Industry: Pro

3:15 AM ET Wed, 25 July 2012

"I think there definitely remains a challenge in the steel industry, structurally there is over supply and there are certainly questions about the demand side of things, whether demand has actually worsened, well I think we have seen it weaken in the second quarter," Jeff Largey, head of metals and mining research at Macquarie Group, told CNBC.