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Iran Steel Market Trend in Week 21st ​ , 2024

Iran Steel Market Trend in Week 21st ​ , 2024

 

Billet

بیلت

Billet price improved a little during last week in Iran domestic market, the reason was that prices has reached the bottom and  producers also resisted against downward prices.


Long Products

میلگرد

Rebar price improved slightly due to the resistance of producers and the market.

تیر

I-beam price has also reached the bottom level and has no potential to decrease.

Flat Products

ورق سیاه

HRC market remained stable. Mobarakeh Steel co HRC 2 mm thickness average price changed from Rials 369000/Kilo to Rials 372000/Kilo ex-work including VAT.


اکسین

 

Domestic market can’t afford accepting lower HRP price.

روغنی

At the beginning of the week, CRC price had a slight decrease, but it stopped due to the resistance of sellers.

گالوانیزه

HDG market also has reached the bottom level.

 

Weekly Analysis:

In the world market:

The world market is still stable and we should not expect any significant change in it any time soon, politics still casts a shadow over the economy. The only factor that may disrupt the market at once is possible China's invasion of Taiwan, the impact of which is a chain and will be seen in all sectors, but it seems that this is only a political maneuver.

 

In the domestic market:

Everything has been affected by the loss of the president and his accompanying delegation, nothing special will happen until the presidential election, but the currency exchange hall will be launched which will increase exports quickly. Apart from this, the pressure on the price of DRI was evident last week which is questionable while pellet is facing a supply limit.

Rebar producers are facing with liquidity problem and naturally billet, for this reason, if this problem is solved, the prices will change. In the case of flat products, as prices are reaching their bottom, everyone expects prices to increase, but also cautious and waiting for the presidential election.

Coming weeks will show whether the market prefers to wait or goes its own way, the liquidity issue is decisive in the meantime.

 

CBI average ex-rate for Steel Products (SANA): Rials 415,371 / 1USD
27 May 2024
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
IRSTEEL.COM

 

 

 

 

 

May 27, 2024 14:55
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