Billet
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
Rebar price improved slightly due to the
resistance of producers and the market.
I-beam price has also reached the bottom level and has no potential to
decrease.
Flat Products
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.
Domestic market can’t afford accepting lower HRP price.
At the beginning of the week, CRC price had a
slight decrease, but it stopped due to the resistance of sellers.
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