Billet: The issue of power outages caused an increase in demand and
price of billet in Iran domestic market last week.
Long Products
Rebar: Limited supply caused a limited increase in rebar price.
I-beam: I-beam market remained balanced.
Flat Products
HRC: HRC market remained stable due to weak demand.
HRP: Oxin co HRO experienced the same trend as HRC.
CRC: Weak demand and lower ex-rate made CRC price fall.
HDG: Lower ex-rate and the stagnation of HRC market caused a decrease in HDG
market.
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