The steel market will bounce back as the Sino-US tariff war ends

The year of 2 in the country is nearing completion in a short time. And the New Year is coming soon. Then, according to the directions out of the steel iron market in the country, steel prices have dropped by about 1 to 2 percent in the first five years and prices are less likely to rise in the new year. Globally there have been discouraging news.

At the global level, the steel industry was experiencing a downturn in the period of 1 to 5 and this industry has again found its way into the pit. The impact of the trade war trade war between China and the United States in the years of 1 and 2 years is showing the global steel market.

Earlier, the US president had imposed large tariffs on steel. However, according to the news released at the end of Part 2, the tariff war between China and the United States has now been settled and both countries have come closer to each other after the lengthy meetings and have agreed to sign the agreement.

As a result of this, there has been hope of communication in the global steel market at the bottom of the global market. Although there have been signs of an end to trade wars between China and the United States, the question of breakage between Britain and Europe is likely to be resolved shortly after the recent elections in Britain.

These signs have also given rise to new hopes for the global steel market and industry. The dispute between China and the United States and Britain and Europe was taking place on the global steel market and industry over the years, and now, at the end of the year, the dispute has been resolved in the steel market.

In India, the automotive industry and construction industry have been undergoing poor conditions recently and this has affected the demand from the domestic steel industry. Depending on the domestic steel market and the export base in the industry, the cost of goods, the downward trend, the increase in imports. Different challenges like the one that appeared in the departing year. Now, the upward trend in the domestic steel market has given rise to optimism for lower demand.

Informants are showing hope in the automotive industry and construction industry in the aftermath and if this happens then the steel market is also showing the possibility of increasing demand. The trade war between China and the United States lasted for three to six months and now the trade war is ending. This has given rise to optimism for new demand in the steel world market. The US imposed tariffs on steel imports on August 9, hitting exports of steel from India.

India's steel exports declined by around 3-5% in the last five years. Due to US tariffs and global low prices, steel exports from India dropped to around 1 lakh tonnes in the 5th. In addition, domestic steel demand, which was showing annual growth of 5 to 5 percent annually, was reduced to about three-and-a-half percent annual growth.

At the beginning of the 7th, the domestic steel prices went up slightly. But the price jump was like that. The benchmark price of China steel was 5 to 5 dollars in a ton of hot rolled coil steel sheets.