[Your shopping cart is empty

News

Iran Steel Market Trend in Week 42nd , 2024

Iran Steel Market Trend in Week 42nd  ,  2024

 

 

Billet:  The decrease in the supply of billet in the stock market and concern about gas shortage improved the demand for billet.

بیلت

Long Products

Rebar: Weak demand along with political concerns caused rebar market to stagnate.

میلگرد

I-beam: The demand was weak, but market control kept I-beam price.

تیرآهن

 

Flat Products

HRC: Higher slab demand made HRC market improved.

گرم

HRP:  HRP market is at the bottom and higher slab demand made it rise.

گرم-برشی

CRC: Higher ex-rate made CRC price improve.

 سرد

HDG:  Under the influence of Higher HRC price, this product faced an increase in price.

گالوانیزه

Weekly Analysis:

In the world market:  The impact of Chinese market changes on iron ore, scrap and billet can be seen in the global markets, but the improvement in prices is neither large nor firm. The Chinese government finally took a stand on construction companies and decided to push them back. Apparently, the Chinese have taken action, despite the fact that the price of oil does not show an increase and confusion continues in the world markets. The interest rate in Europe should be changed, but the main problem in the Middle East is still ongoing, the Arabs' investment in AI, which does not need iron and steel, should wait for the end of the war and the start of reconstruction.

 

In the domestic market: The market is in confusion and in a situation where lack of money is more noticeable every day, for now the market prefers to wait and see, the news about next year's budget is unclear, it seems that this budget promises serious changes. Anyway, the situation cannot continue like this. The discussion of the gas problem is becoming more serious every day, the lack of gas affects the production of DRI and electricity, for this reason, billet producers have increased production as much as possible. They are trying to increase export as much as possible and control the domestic market. Weak demand for rebar does not allow a serious increase in the price of billet.

 At the moment we should not expect much for the coming weeks, both demand and production have reached the bottom. Warehouses are empty and the production does not want to increase, this situation is not stable for a long time, you have to wait for a few weeks. Either demand should increase or production should decrease.

 

 

CBI average ex-rate for Steel Products (SANA): Rials 482,515/ 1USD
21 Oct 2024
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
IRSTEEL.COM

 

 

 

Oct 21, 2024 10:56
Number of visit : 161

Comments

Sender name is required
Email is required
Characters left: 500
Comment is required