Press

Agentine Peso Attacked the Extending of KAYSUNS


Agentine Peso Attacked the Extending of KAYSUNS

Kaysuns is a professional stainless steel pipe and fitting supplier. Their stainless steel pipe and tubes, such as duplex 2205 pipe, 317L stainless steel pipe, are widely used in petroleum, chemical, natural gas, shipbuilding, mining and other industries. 

Argentina, as one of the most economically developed countries in South America, it has always been our important target market for the past few years. Due to the sharp falling of the Argentine exchange rate, it seems that Argentina's economic recession in 2019 and the shrinking demand have become a trend. We are afraid that the business in Argentina will be greatly affected in this year.

Kaysuns ' stainless steel tubes and fittings have been widely used in the Argentine market, and projects from companies such as YPF have come to our pipes. As a big market in South America, Argentina is also our main market in South America. However, due to the instability of the Argentine exchange rate market, we have seriously affected our development in the South American market this year, and affected countries such as Brazil and Venezuela.

 

Kaysuns originally expected that exports to Argentina in this year will grow by 20%. But as of August 2019, the actual export to Argentina fell by 50%, which is a huge blow to a company that is committed to extending the South American market.

Since August , Argentina's foreign exchange reserves have fallen sharply. A central bank data show, Argentina's foreign exchange reserves 8 Yue 12 days to 657.36 billion US dollars, 8 Yue 28 fell Day 569.53 billion. 9 Yue 2 Ri evening, the Argentine peso futures contract plummeted, 9 months Maturity Argentine peso futures contract fell 10.1% to 58.8 , 10 months Maturity Argentine peso futures fell 12.7% to 62.70 . At the same time, the exchange rate of the Argentine peso has also fallen sharply. From 8 Yue 10 since May, the Argentine peso against the dollar from 45 front-line quickly dropped to the current 60 in the vicinity, the depreciation rate as high as 30% or more.

 

We can see that Argentina is taking desperate action to keep dollars in the country as it tries to prop up its collapsing currency and avoid defaulting on its debt for the third time since 2000.

 

The government “considered it necessary to adopt a series of extraordinary measures aimed at assuring the normal functioning of the economy, sustain the level of activity and employment and to protect consumers,” said the official announcement of the new controls.

 

We hope that the Argentine exchange rate crisis will pass earlier and hope that Argentina will regain market confidence as soon as possible.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

https://kaysuns.com/duplex-2205-stainless-steel-pi...

duplex 2205 pipeforeign exchangeeconomicallyArgentina

More items from cnwellgreen


Advantages Of Duplex 2205 Pipe Over Oil Industry

Why Duplex Pipe Be Used In Oil Industry Compared with 316L and 317L stainless steels, 2205 duplex stainless steel has better performance in pitting and crevice corrosion resistance.It has high corrosion resistance and a lower coefficient of thermal expansion than austenite Higher thermal conductiv ...

roger chen - kaysuns industry limited


Posted 1 month agoPress > oil industryduplex pipeduplex 2205 pipe +1

Manufacturing Process of Duplex Pipe - Why Duplex Pipe is Expensive

Manufacturing Process of Duplex Pipe - Why Duplex Pipe is Expensive After more than ten years of development, the manufacturing process of duplex stainless steel pipes has gradually matured, it made the material from high-end to ordinary applications. Considering the relative cost, more and more c ...

roger chen - kaysuns industry limited


Posted 1 month agoPress > Manufacturing Processduplex pipeWhy Duplex Pipe is Expensive +1

IMO 2020 and Scrubber

In the coming 2020, the sulfur-limiting order formulated by the International Maritime Organization (IMO 2020) will bring a series of changes to shipping. According to the latest estimates by the Exhaust Gas Cleaning Systems Association (EGCSA), at least 4,000 ships will be equipped with scrubbers ...

roger chen - kaysuns industry limited


Posted 1 month agoPress > IMO 2020Exhaust Gas Cleaning Systems AssociationInternational Maritime Organization

Annual Output Value Reaches 10 Billion! Guangdong Yongjin's Stainless Steel Phase I Has Been Completed 90%, Trial Production Next Month!

We carry out the cold rolling process independently, all relying on the upstream raw material support. Here in Yangjiang city, we must rely on the supply of Guangqing's raw materials. Its raw material guarantee has great support for the supply of our customers. After the first phase of the project ...

roger chen - kaysuns industry limited


Posted 1 month agoPress > cold rolling processstainless steelYongjin inc. +1

Posco Achieves Steel Operating Profit Of More Than 1 Trillion Won For 9 Consecutive Quarters

Posco Achieves Steel Operating Profit Of More Than 1 Trillion Won For 9 Consecutive Quarters As of the end of the third quarter of 2019, POSCO has achieved operating profit of more than 1 trillion won for nine consecutive quarters. POSCO announced in a conference call on October 24 that in the thi ...

roger chen - kaysuns industry limited


Posted 2 months agoPress > POSCOKoreaSTEEL PROFITS
All posts from cnwellgreen