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Iran Steel Market Trend in Week 24th , 2024

Iran Steel Market Trend in Week 24th   , 2024

Billet:  Billet price increased slightly due to lower supply level during last week in Iran domestic market.

 

بیلت

Long Products

 

Rebar: With the increase in billet price, rebar price also went up.

میلگرد

I-beam: With supply management and improvement of market sentiment, I-beam demand also increased.

تیر

Flat Products

HRC: Power cuts have reduced HRC demand, while its price is at the bottom. Average market price was also downward.

ورق سیاه

HRP: Lower supply level helped HRP market and price improved.

اکسین

CRC: CRC market has also reached the bottom, but power cuts has questioned consumption level.

روغنی

HDG: The weak HDG market did not fluctuate while its price has reached the bottom level.

گالوانیزه

 

 

Weekly Analysis:

In the world market:

Oil pricwe has not changed, it is still below USD 80/ barrel, billet price has remained stable in the world market, as the summer vacations shows its effect in the markets. The war in Gaza has become erosive and there are rumors of its expansion to Lebanon.

For now, everyone is waiting. The only place in the world that can change the demand on a mass level is Iran, which is waiting for the election of new president. Iran's role can be like that of China after the Vietnam War, which changed the world by opening up to the world.

In the domestic market:

Power cuts has affected Khuzestan steel co production level, and as a result, supply of semi-finished steel is being questioned. It has been heard that import of electricity from Armenia and Turkmenistan is being investigated.

The problem of liquidity has become a serious issue for Iran's economy. Production is not affordable with a lack of money or an interest rate above 40%. Either the interest rate should be reduced or the export exchange rate should be changed, for both of which we should wait for the new president. The problem of reducing exports has become very serious, a 70% reduction will increase domestic supply, while the exchange rate issue is the next consequence.

CBI average ex-rate for Steel Products (SANA): Rials 422,669 / 1USD
16 June 2024
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
IRSTEEL.COM

 

 

 

 

 

 

Jun 15, 2024 16:04
Number of visit : 205

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