Billet: Prices fluctuated in line with exchange-rate movements, rising on Saturday before declining as the exchange rate fell.
Long Products
Rebar: Prices remained broadly stable, but the market turned cautious amid the decline in ex- rate.
I-beam: The decline in the exchange rate dampened demand and led to a slight drop in beam prices.
Flat Products
HRC: Currency rate volatility kept sellers on the sidelines during the first two days of the week. As ex-rate began to weaken, HRC offers started to emerge, although prices showed no significant change.
HRP: Limited supply, coupled with an increase in slab prices, pushed up Oxin plate prices.
CRC: Prices remained stable as demand continued to weaken day by day, despite a decline in supply.
HDG: Supply constraints supported an improvement in HDG prices.
Weekly Analysis:
In the world market: China’s market reopened after a week-long holiday, but prices declined. 61% Fe iron ore fines fell to $91/dmt CFR China, while Turkish imported scrap faced weak demand. Billet also attracted little buying interest despite Black Sea prices holding steady at $475/t FOB.
Global markets are grappling with uncertainty and weakening demand, prompting market participants to act cautiously. The shadow of a Gulf war has intensified this caution, and a prolonged conflict could trigger an economic crisis.
Shipping companies are benefiting from the situation, with freight rates soaring. A ship captain’s salary for transporting oil from the Persian Gulf has increased tenfold, while iron ore freight rates have tripled, even though iron ore prices remain unchanged from a year ago.
This condition has forced production cuts, which is also contributing to the decline in prices. The market is unlikely to see a change in the coming weeks unless a major shift occurs.
In the domestic market: The dollar’s early-week rally lost momentum, bringing some calm to the market, but this may be the calmness before the storm.
The underlying problems lie in production constraints, gas and electricity shortages, and restrictions imposed by the IME, all of which are becoming increasingly severe. These developments are creating liquidity pressures for producers and inevitably leading to lower output. Last week, rebar supply on the Commodity Exchange fell sharply, and further declines are expected in the coming weeks as finished-product manufacturers struggle to purchase semi-finished steel. Regardless of exchange-rate movements, prices are likely to rise. The same applies to flat steel products, as the root cause lies in restricted DRI supply.
If the exchange rate starts moving again, the market will become unpredictable, caught between shortages of goods on one side and weak demand and limited liquidity on the other.
CBI average ex-rate: Rials 1,794,784/1USD
12 Oct, 2026
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
Irsteel.com