India have a huge invest in infrastructure projects to consume stainless steel. Therefore, with a 10% production increase this year, it may become the third largest stainless steel producer.
In China, the government's decision to relax restrictions in the struggle against the epidemic has boosted market sentiment, causing steelmakers to increase production. In addition, the authorities have introduced some stimulus measures for the real estate sector that will increase economic activity.
Some downside risks were also predicted, including geopolitical tensions and longer-than-expected stock regulations in the West. However, lower energy prices and reduced inflationary pressures will benefit the stainless steel market.
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