The bad steel news last week was the continued indecision of the Ministry of Silence, which resulted from the lack of a vote of confidence by the parliament in the proposed government minister to take over the ministry.
The bad news last week was the continued confusion and confusion of the Ministry of Silence, which resulted from the lack of a vote of confidence by the parliament in Hossein Modarres Khiabani, the government’s proposed minister to take over this key ministry.
*** Bad news of the week
A meeting to review the qualifications of Hossein Modarres Khiabani for the post of Minister of Silence was held on Wednesday, August 13th, and the members of parliament finally, with 140 votes against, 104 in favor and 10 abstentions, did not vote in favor of the proposed minister. Thus, the street teacher, who has been the head of the Ministry of Silence since May 12 this year and happened to take effective measures in difficult circumstances, failed to reach the ministry seat and one of the most sensitive ministries in the country will remain undecided.
Hossein Modarres Khiabani had 17 years of experience in the Ministry of Commerce before heading the Ministry of Silence. In difficult circumstances, he was elected head of the Ministry of Silence, and despite the Corona crisis, severe sanctions and exchange rate instability, he performed successfully during his short tenure as head of the ministry.
*** Modification of steel market regulation procedures
Modares Khiabani took steps to improve the procedures for regulating the steel market, and steel companies and the Iranian Steel Producers Association also accompanied him in this direction. In general, in many industries, from the automotive industry to the steel industry, the election of a street teacher as Samat’s proposed minister was welcomed. He is a non-political, non-partisan figure, familiar with both industry and commerce, and many experts believe that in these difficult circumstances, he was a good choice for the post of Minister of Silence.
With no vote of confidence in the street teacher, the Ministry of Silence remains undecided. In this ministry, many issues, from regulating the steel, cement and automobile markets to issues related to non-oil exports, must be assigned according to expert work. This uncertainty will definitely cost the country’s economy. The problems that the Ministry of Silence must solve quickly are not simple. The street teacher had mastered these issues during his tenure, and now this cycle of learning about problems and trying to solve them must be repeated from the beginning.
*** Confusion in the steel market in the current situation
Reza Shahrestani, a member of the board of directors of the Iranian Steel Producers Association, in an interview referring to the confusion of the steel market in the current situation, said: not winning the vote of confidence of the street teacher for the Ministry of Silence in the parliament, confuses the market, because There is no worthy and compassionate person for this position, and given the short remaining life of this government, the president must receive a direct order from the Ministry of Street Teachers through the leadership, otherwise the market will not open and more than before, You will be confused.
He added: “By confusing different industries, the market will be locked.” The proposed Minister of the Republic envisaged effective policies, none of which would be implemented when he was rejected by the parliament, and the management of the Ministry of Silence would be in the hands of the deputies and subordinates, each of whom would build for themselves. These managers will have conflicting orders with each other, and this can lead to rising or falling prices or even a drying up of the market.
*** Good news of the week
Nader Soleimani, another member of the board of directors of the Iranian Steel Producers Association, said in an interview: “The non-election of a street teacher as Minister of Silence will have negative and destructive effects on various markets such as steel, automobiles, cement and other related markets.” These effects are due to the fact that the three-month term of the ministry has been completed by the head and the government no longer has the opportunity to nominate a more capable person for this position, and this issue was taken out of the hands of both the government and the parliament. Secondly, the life of the current government is coming to an end and there is no longer an opportunity to identify a capable minister for the Ministry of Silence.
The good news last week was the localization of the 710 kW gearbox of the Mobarakeh Steel Company’s iron ore conveyor. This very large and complex gearbox, the technical know-how of which was only available to Germany and the United States, was built within 12 months at the height of sanctions inside the country.
The output power of this gearbox is 134,000 Nm, which rotates at an output speed of 33 rpm. The 710 kW gearbox of Mobarakeh Steel Ironworks is built in accordance with all international standards and has a 10-year warranty by the manufacturer’s in-house knowledge-based company.
The localization of this gearbox, in addition to acquiring the technical knowledge of its construction, also prevents the outflow of currency from the country. The foreign model of this gearbox costs 134 thousand dollars, but the price of the internal model is only 34 thousand dollars.
*** The best steel symbol of the week
The best steel symbol of the stock market last week should be considered #Desert. Last week, the shareholders of many symbols went through nightmarish trading days and somehow got lucky that it was closed on Saturday, August 8th! However, the shares of Kavir Steel Complex had good trades last week and were covered in green on all working days of the week.
In the last 4 working days of last week, the #Desert symbol experienced a growth of 11.8%.
*** Commodity exchange steel supplies in the past week
In the past week, 283,462 tons of various steel products were traded on the commodity exchange.
The total value of steel products transactions in the commodity exchange last week was 2632 billion tomans.
Last week, Mobarakeh Steel earned 1479 billion Tomans from the sale of various types of steel sheets in the Commodity Exchange. Of all the steel companies, Mobarakeh Steel had the highest sales value of products on the Commodity Exchange last week.
Last week, for the second consecutive week, the supply of slabs in the commodity exchange was not welcomed again, and in non-mating transactions, only 5,000 tons of slabs produced by Khuzestan Steel were sold! Manufacturers of steel sheets believe that the base price of sheets in the commodity exchange is lower than the cost price of slabs for them and with the current practice, it is not possible to buy them from the commodity exchange.
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