Iran Steel Market Trend
in Week 49th , 2024
Billet: Billet
market was relatively stable during last week in Iran
domestic market, although demand on the stock exchange was low, market price was
at the bottom.
Long Products
Rebar: Rebar market continues to struggle with demand problems
and a shortage of money, prices have reached their lowest point.
I-beam: Demand shortage made I-beam price downward.
Flat
Products
HRC: Lack of edmand and a drop in slab price caused HRC price to
decline at the end of the week.
HRP: Weak demand and falling slab prices caused Oxin co HRP price to drop.
CRC: CRC price has reached its bottom at the
one hand, and on the other hand, the supply has no room to lower the price.
HDG: HDG market was almost stable, with the price change of
the two thin sizes, maintaining the average price.
Weekly Analysis:
In the world market: The global market is facing a limited decline in the
price of billet and scrap. This is unlikely at this time of year. The reason
for this is the global recession and China's competition. It
does not seem that this situation will change seriously for another two months.
Currently, the world is engaged in the Middle East war and is waiting for a new
Middle East map.
In the domestic market: The recession continues to dominate the domestic market, billet
producers suffer from a lack of export. While the risk of Trump's sanctions
should intensify export level, billet market facing a surplus of supply due to
weak demand for long products. Flat products market’s situation is worse because it is
an industrial commodity. Last week, the market was faced with the supply of
cheap slabs and this trend is likely to continue. The steel industry is facing
an increase in finished cost prices. Apart from water,
electricity, and gas, the cost of financing has also increased.
The situation is such that the only way to cover the loss is
to increase the exchange rate. Perhaps
with the launch of currency exchange in the foreign exchange market, the free
market price will decrease, but for economic and historical reasons, this rate
will tend towards the free market rate. If
exports become more open, prices will change.
CBI
average ex-rate for Steel Products (SANA): Rials 534,401/ 1USD
09 Dec 2024
M.Chitsaz
Iran Steel News
Bulletin
IFNAA.IR
IRSTEEL.COM