Tue. Nov 24th, 2020

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

No growth in production of stainless steel in 2020

1 min read
Stainless steel industry has inspected a domestic melt production of 3.92 million tonnes and the production growth witnessed a fall of 5% in the former year in comparison to 7-8% achieved in the previous years.
Estimations by the Indian Stainless Steel Development Association (ISSDA) are showing the chances of further falling because of the lockdown all around the country.

It has been aided by unregulated dumping as well as Free Trade Agreements (FTAs) signed by India with ASEAN countries, much to the detriment of the domestic industry. This has, in turn, led to a significant impact on capacity utilization levels, currently at around 60%, he added.

The global stainless steel melt production in the current year 2019 was recorded at 52.5 MT, registering an increase of 2.9% year-on-year as per latest data released by Indian stainless steel forum. For CY2019, China’s production figure accounted for more than 50% of the global stainless steel production and stood at 29.4 MT.

 

 

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.