Billet: During last week in Iran domestic market, price of DRI and ex-rate both increased, leading to a rise in the price of billet.
Long Products
Rebar: Higher Billet price and stock market's push for higher prices were two factors driving the increase in rebar price.
I-beam: Supply management and the rising exchange rate have led to an increase in the price of beams.
Flat Products
HRC: Despite weak demand, changes in the exchange rate and limited supply of certain thicknesses have slightly raised the hot-rolled coil market.
HRP: Oxin co HRP market has long reached a balance of supply and demand, and the currency stimulus has only a limited effect on it.
CRC: Supply of various mills and their competition has kept CRC market stable.
HDG: HDG market has remained stable due to the stable price of HRC.
Weekly Analysis:
In the world market: Far East and China markets as the largest consumer and producer were on holiday, and the market was at a standstill. Prices have therefore remained stable, but fears of US tariffs and the subsequent dumping of cheap Chinese goods into global markets have worried everyone. The European market is desperately seeking solutions due to a sharp drop in demand and rising costs caused by the cut-off of cheap energy and US sanctions, but Turkey market, thanks to the Syrian market and Arab money, are preparing for a celebration. We must wait a month for the Chinese market and US policies to become clear. Undoubtedly, this year's market will have many ups and downs.
In the domestic market: Stock market manipulation continues; on the one hand, they raise prices, and on the other hand, they limit quotas. The market, affected by the shortage of billet and slabs, continues its upward trend while domestic demand is weak. Formal and informal exports continue at a rapid pace. What is certain is that everyone is confident that due to the energy issue, currency restrictions, and the budget deficit, there will be no significant price reduction. Parallel markets have also fallen into recession, so the steel market is making up for its backwardness.
Flat products market is affected by two contradictory factors: the increase in slab prices and the competition of producers. The biggest damage is suffered by sheet, pipe, and profile producers due to the government's dictatorial policies, which limit their exports, while the government should support them. The market will be calm until next week Holiday but after that, we must look at the exchange rate.
CBI average ex-rate for Steel Products (SANA): Rials 665,198/ 1USD
03 Feb 2025
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
IRSTEEL.COM