Billet: Billet price was on a downward trend, weak demand affected the market, while the supply is increasing every day.
Long Products
Rebar: The price of rebar remained stable as it almost reached its bottom.
I-beam: The market is facing low demand, but supply management kept the price.
Flat Products
HRC: The price of 2MM HRC in Mobarakeh was 310,000 rials on Sunday, which reached 336,000 rials by Wednesday. The market has reached its bottom, but imported goods do not allow market to be stable.
HRP: The supply is very resistant to the price decline, but it is useless.
CRC: The market is faced with the supply of imported goods and the price decline is expected to continue as the consumption is not responsive.
HDG: Following the drop in the price of black sheet, galvanized sheet also declined.
Weekly Analysis:
In the world market:
Following the change in the policy of the Chinese government, the market of this country also improved, but the war in Lebanon has still affected investments, the change in the situation in China is promising. It seemes that China is going to follow Japan and what it did in the 90s. So, there is no hope for eyecatching changes.
On the othe hand, markets are waiting for the results of the events in the Middle East.
In the domestic market:
Demand is extremely weak, and worse thing is the liquidity problem that imposes a heavy pressure on the market. This situation cannot be continued for a long time. This will increase the pressure of the banks and aggravate the situation.
Market is suffering from the huge amount of imported hot and cold sheets. It seems that in the coming weeks, the price of sheets will drop. In the previous week, several factories had Billet export tenders, which are likely to be intensified to compensate for the lagging demand for rebar. The whole idea is that the market will struggle with stagnation for the time being.
CBI average ex-rate for Steel Products (SANA): Rials 462,206/ 1USD
30 Sep 2024
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
IRSTEEL.COM