After a few days of turmoil in the ingot market, not only has there been no definite news about the withdrawal of steel products from the commodity exchange, but hopes for a growth in the supply of steel have been strongly strengthened.
The letter of the Consumers and Producers Protection Organization, on the requirement to supply the steel produced by all producers, which was published on Thursday, August 29, is a refutation of the speculations of the steelmakers to leave the commodity exchange and a positive signal to increase supply in this market.
This, along with the explicit statements of some officials in support of the trading mechanism in the commodity exchange, has turned the negative mentality of steel trading into serious hopes for the growth of supply volumes in the physical market.
The history of attempts to remove various products from the Commodity Exchange is 10 years old, which has never been implemented except in agricultural and food products, and it seems that this time too, behind-the-scenes efforts to remove these products from the trading ring of the Commodity Exchange have been ineffective.
Of course, contrary to previous monitoring to increase the supply of steel in the Commodity Exchange, this time the Market Regulation Headquarters wants to pursue this supply growth by monitoring small steelmaking units that have previously refused to supply in the trading ring of the Commodity Exchange.
The implementation of this issue, in addition to leading to stability in the supply of commodity exchanges, can also open the hands of large steelmakers to increase exports, and thus fulfill the steelmakers’ request to the President to facilitate exports.
*** Change the roadmap; Leaving the stock market led to an increase in supply
Over the past week, the country’s steel market has gone through turbulent weeks. On Monday, August 2, the managers of the country’s major steel companies had a meeting with the president. There were speculations that steel would leave the commodity exchange.
Although this news is referred to as a rumor today, it was not directly rejected by any official after its publication, and this issue added to its seriousness. Following the publication of the letter of sale of Khuzestan steel remittances to the National Steel Group and the response of the Chairman of the Economic Commission of the Islamic Consultative Assembly to the letter of the President confirmed the existence of words and sayings about steel products leaving the stock market.
*** Instructions for regulating the market of steel products
But finally, the Organization for the Protection of Consumers and Producers issued a letter on the guidelines for regulating the market of steel products on Thursday, August 29th, stating: “Supply the goods on a weekly basis at every stage,” which put an end to a week of market confusion.
The letter states that with the aim of monitoring the supply process in the stock exchange and controlling the supply floor, monitoring the consumption of steel products in the production and trade cycle after the commodity exchange is re-emphasized and all units producing steel products, including steel ingots. All kinds of steel sheets, rebars, beams, etc. should offer their products in the commodity exchange.
The storage of the mentioned products in the storage centers is a member of the comprehensive warehouse system, and obviously in case of non-observance of the notification supply floor or its storage in unauthorized centers, the case of violating companies, in addition to the government penitentiary organization The whole country is reflected.
*** Change in the layout of the steel market
Although the release of the Consumer Protection Organization’s letter to regulate the market for steel products with the increase in supply denies the news of the exit of these products from the trading ring of the Commodity Exchange, this is not the end of the published news about the request of major steelmakers to focus on exports.
In fact, requiring all small steel producers to go public is a way to balance this market and also reduce the pressure on large producers so that they can devote more of their production to exports.
Due to the situation in the country and the increasing restrictions on the export of oil and oil products due to the intensification of sanctions, maintaining and continuing exports in the steel sector due to the provision of foreign exchange for the government has become significant and this issue has led the government to resort to Provide exports in this sector with minimal pressure on the domestic market.
Of course, the decision to oblige all steel producers to comply with the supply floor of the product in the commodity exchange was related to 2 years ago, but before that, a significant part of small and medium producers refused to implement it, which seems to be a serious decision by the Consumer Protection Organization. The implementation of this supply floor has been taken by all manufacturers.
*** Facilitating exports was the demand of steelmakers
Bahram Sobhani, President of the Association of Steel Producers, told the world of economics about the contradictory news of the withdrawal or non-withdrawal of steel from the Commodity Exchange: “Steel producers did not seek to leave the Commodity Exchange from the beginning. It did not happen and we do not know how and from where this news was published, which caused this volume of reaction this week.
The Association of Steel Manufacturers, on the one hand, does not consider the withdrawal of various steel chain products from the trading ring of the Commodity Exchange to be in the interest of this market, and on the other hand, does not pursue such demands due to its illegality.
He continued: Steel producers in a meeting with the President made clear and reasonable demands to remove barriers to production and exports and They demanded export facilitation
Currently, only a few large steel producers in the country offer their products in the trading ring of the commodity exchange, and the non-supply of products of several small producers, which happen to have a significant share of production, has caused a shortage of supply relative to demand.
Until now, the Ministry of Industry, Mines and Trade and the Market Regulation Headquarters have been putting pressure on several large steel companies to regulate supply and demand in the commodity exchange.
The logical demand of the steelmakers was the supply of this product by all manufacturers, which was also agreed upon, and the market regulation headquarters also issued an announcement of this requirement, and we must wait for its implementation in future transactions.
the world of economy
این مطلب بدون برچسب می باشد.
ثبت دیدگاه