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Iran Steel Market Trend in Week 22nd , 2024

Iran Steel Market Trend in Week 22nd    , 2024

Billet: The issue of power outages caused an increase in demand and price of billet in Iran domestic market last week.

بیلت

Long Products

Rebar: Limited supply caused a limited increase in rebar price.

میلگرد

I-beam: I-beam market remained balanced.

 

تیر

Flat Products

HRC: HRC market remained stable due to weak demand.

 

ورق سیاه

HRP: Oxin co HRO experienced the same trend as HRC.

 

اکسین

CRC: Weak demand and lower ex-rate made CRC price fall.

 

روغنی

HDG: Lower ex-rate and the stagnation of HRC market caused a decrease in HDG market.

 

گالوانیزه

Weekly Analysis:

In the world market:

The world market does not have any special news, price of oil, scrap and billet remains unchanged, nothing special has happened from the Chinese side, waiting for the coming weeks is also pointless. Summer Holidays in Europe and USA will affect activities for the next two months. The wars at Gaza and Ukraine are still going on. Changing the trend of world economy requires great politicians, of which there is no sign at the moment.

 

In the domestic market:

Domestic market inventory level has reached its minimum, Lower exchange rate implies a drop in inflation, but until government expenses are not reduced and budget deficit is not resolved the inflation will only fluctuates.

This stagnant market has caused the production to decrease, as a result, mills mostly are struggling with the delays in  delivry. In general, serious change is not expected until the coming presidential election. After that invasion of the delayed demand will affect the market. For now market players should calm down and just wait.

 

CBI average ex-rate for Steel Products (SANA): Rials 418,078 / 1USD
02 June 2024
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
IRSTEEL.COM

 

 

 

 

 

 

 

 

 

Jun 2, 2024 13:54
Number of visit : 101

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