Billet: Billet price remained stable. The recession in rebar market and the supply of credit billet
stabilized the market.
Long Products
Rebar: Rebar price remained stable despite weak
demand as it is a the bottom.
I-beam: I-beam market has bottomed, its price has not decreased, even though there
is no demand.
Flat Products
HRC: Mobarakeh Steel co offers on the stock exchange caused HRC
price to drop slightly, but then it returned to the level of beginning of the
week.
HRP: Finally, HRP market showed some resistance to the
recession thanks to higher currency rate, but it is still fragile.
CRC: CRC market was stable, only slightly
fluctuating due to the impact of currency rate.
HDG: Despite the increase in ex-rate, stagnation in demand
caused HDG price to decrease.
Weekly Analysis:
In the world market: The global market is still in recession, iron ore, scrap, billet and oil
prices are still stagnant, and it seems that the Middle East conflict is
finally coming to an end. Perhaps next year's steel market will be different
from this year, but Trump's presidency effect should not be ignored.
In the domestic market: Despite the recession, domestic market was affected by
two decisions last week.
First, the circular to change the basis for
determining the stock exchange price based on rebar instead of billet, given
the recession in the rebar market, price of billet must also be reduced, which
is not clear given the shortage of DRI and the increase in production costs. In addition, these decisions are fundamentally contrary to the purpose of
establishing the stock exchange.
The second is the launch of the currency hall,
which has been talked about a lot, although it is a necessity, but the
implementation and programs outside it, especially the issue of Trump's
policies, need to be examined. We must wait and see the results of these two
decisions.
CBI
average ex-rate for Steel Products (SANA): Rials 534,401/ 1USD
16 Dec 2024
M.Chitsaz
Iran Steel News
Bulletin
IFNAA.IR
IRSTEEL.COM