Dalal Street Investment Journal|May 25, 2020
What is your outlook for the prices of steel in 2020, taking into consideration the current economic condition prevailing in the country?
Though India expected a positive outlook in the year 2020, the outbreak of the virus pandemic has inflicted high and rising human costs worldwide and the necessary protection measures are severely impacting economic activities. As a result of the pandemic, the global economy is projected to contract by around 3% in 2020. The world is faced with uncertainty over the extent of the pandemic and commodity prices are declining. The price of iron ore is expected to driftlower in the forthcoming months due to the pandemic that is eating away at demand. It is reported that the lockdown has spurred steelmakers to close furnaces as demand from their customers such as automakers has dried up.
You can read up to 3 premium stories before you subscribe to Magzter GOLD
Log in, if you are already a subscriber
Get unlimited access to thousands of curated premium stories and 5,000+ magazines
READ THE ENTIRE ISSUE
May 25, 2020