Billet: Billet price did not change during last week
in Iran domestic market, but some reductions seems probable in near future.
Long Products
Rebar: Liquidity shortage and the
problems faced by some traders put pressure on domestic rebar market.
I-beam: Market recession caused a
relative drop in I-beam price.
Flat Products
HRC: HRC price has reached its bottom and has no
room to decrease unless Mobarakeh Steel co lowers its prices for this month's
supply.
HRP: Supply management made HRP market stable.
CRC: CRC market was calm as demand was stopped due
to the holidays.
HDG: HDG market was quiet like CRC.
Weekly Analysis:
In the world market: Oil price has reached about USD70 /barrel, OPEC is trying
to maintain its price, but with the return of Libya to the market, there is not
much hope. Price of iron ore has declined to
about USD 90/mt, and Chinese export billet is USD420 /mt FOB, Iranian slab is
at USD 420/mt and its billet is around USD460/mt FOB. All
the news indicates that prices are nearing their bottom. What
is hopeful is that the war in Gaza will probably be decided soon, winter will
calm down Ukraine war and the world is waiting for the election in USA.
In the domestic market: Finally, holidays are over, working hours are
back to the normal, power cuts are being solved and the political sentiment is
also turning in favor of the economy. It seems that the government will be active from this
week, we have to wait for the market to turn. If
the currency hall is activated and the currencies return to the country, the
market will be very active.
In any case,
the market is waiting for stability, maybe a little price adjustment will help
the turnover of transactions.
In any case, the market is waiting for two actions of the
government:
First, solving
the currency problem,
Second,
assignment of export duties,
Direction of
the government and the market will be clear in the coming days.
CBI average ex-rate for Steel Products (SANA): Rials 453,023/ 1USD
09 Sep 2024
M.Chitsaz
Iran Steel News
Bulletin
IFNAA.IR
IRSTEEL.COM