With Dr. Dehnavi in consultation with MPs today, the steel chain pricing guidelines will not be implemented at this time. Dr. Dehnavi asked the parliament for about 3-4 weeks to develop a comprehensive guideline that takes into account the interests of shareholders so that while stabilizing the steel industry, long-term investment in the industry is not harmed.
Perhaps in the past month, no news has shocked the steel market as much as the new steel standard setting, and in the past month, the entire steel market and the entire supply chain have been overshadowed by this news. In this memo, we will discuss the latest statements regarding the pricing policy of the steel chain. Please be with Artan Press.
*** Comprehensive steel chain pricing plan
The comprehensiveness of the steel industry pricing plan in the entire supply chain is unprecedented to date and is one of the biggest causes of market fluctuations related to this issue. The government’s steel standard for the steel industry has required all producers of steel products, from iron ore to finished products, to offer their products on the commodity exchange, which has led to differing opinions from activists in the field.
The manufacturer’s policy requires that if they buy their raw materials from the stock exchange, they must put all their products back on the stock exchange. In this way, the origin and destination of the goods will be completely transparent and the price gap between the ingot and the final product will be clear. The Association of Steel Manufacturers and Manufacturers of Steel Ingots welcomes the supply of all products on the Commodity Exchange. When all the products are offered in the commodity exchange, the interests of some will definitely be jeopardized.
Regardless of whether the instructions are good or bad, the law must be fully enforced. Compulsory offering of all products in the commodity exchange may not be to everyone’s liking and may not be a good solution, but not fully implementing the directive and acting selectively is also not a good solution.
*** Steel chain pricing guidelines will not be implemented at this time
With Dr. Dehnavi in consultation with MPs today, the steel chain pricing guidelines will not be implemented at this time. Dr. Dehnavi asked the parliament for about 3-4 weeks to develop a comprehensive guideline that takes into account the interests of shareholders so that while stabilizing the steel industry, long-term investment in the industry is not harmed.
In the steel industry, as in the petrochemical industry, we will probably move to a fixed formula to increase costs and pricing, etc., instead of setting rates, leaving no ambiguity and no longer changing rules and regulations. This is really good news for the steel industry and better news for the capital market, whose voice is so loud and influential that it can be so influential for the interests of its shareholders and stakeholders.
Dr. Dehnavi will probably have meetings with steelmakers in the coming days. The order of the First Vice President to amend the Code does not mean that the Code will be rewritten; Rather, the order emphasizes that items of the same procedure should be amended in such a way that the stock exchange and the stock exchange are not shocked.
*** Suggestions for modifying the policy
Earlier, in the meetings held in the presence of Mr. Nahavandian, suggestions for amending the code of conduct in order to better implement it were presented by steel chain activists, and it was planned to make the necessary amendments to the code of conduct and, based on that, the executive instructions. Write the style sheet.
General guidelines are provided and instructions must be provided for its implementation; Mr. Jahangiri’s order is not in conflict with the promulgation and implementation of the code of conduct, and is merely to emphasize that the instructions should be written and implemented in such a way that the capital market and steel shareholders are not harmed.
Based on the suggestions made in the previous meetings, it seems that some corrections, such as considering the price of last week’s reports of Metal Bulletin, will be applied instead of the prices of the last week of the month before the release in the text of the policy.
*** High price difference between domestic ingot base and CIS field
In the current situation, the base price of domestic ingots and the CIS field are very different. One of the main reasons for this discrepancy is the appendix to the new pricing policy, which emphasizes the price of the last week leading up to the CIS index to determine the price for the following month. In fact, there is a 1-month time difference between domestic and global prices, which in the current situation, transfers a lot of profits from steel producers, including ingots and steel products, to downstream buyers.
Contrary to the opinion of many experts and specialized organizations, the Ministry of Silence intends to insist that all steel products, even grade 2 products, warehousing and out of the standard range, be offered on the commodity exchange, which is a matter of order. It may be thought that the stock market is a transparent forum for the supply of goods, but it entails a lot of overhead costs for the supplier, which will definitely be provided from the buyer’s pocket.
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