The steel ingot market all over the world is associated with many inflammations. The situation has changed in such a way that we are witnessing the readiness of the price of steel ingots to enter the border of $ 600. Metal Bulletin estimates show that bullion has risen 9 percent in the past week. The continuation of Iran will accompany the trend of the automotive and home appliance industries with heavy challenges. Bullion prices these days are heavily influenced by rising iron scrap prices.
*** reason for the increase in steel ingot price
According to Metal Bulletin, regarding the changes in the price of steel ingots. it has been determined that the CIS region has recorded the highest rate of weekly price growth in the field of ingots. The price of ingots in the CIS area has crossed the $ 590 mark and in some cases has even reached $ 597. It is very likely that the growth rate of steel ingots in the world market will continue. All supply and demand factors are in favor of the growth of steel ingots. On the other hand, supply chain factors and the shortage of iron ore and scrap iron have kept the steel ingot market inflamed for the past three months.
***CIS trends for steel ingot price
Increase in CIS area ingot rates The rise in steel prices in world markets, especially in the CIS region, was quite evident earlier this week; The latest bid price for ingots in the region reached $ 590- $ 595 per ton last week. With the announcement of Metal Bulletin reports on Turkish ingot transactions, we realized that this rating has been confirmed and stabilized in the international market. With the staggering growth of iron scrap prices due to the decrease in the activity of steel smelting furnaces, we will see the growth of steel ingot prices in international markets.
*** Rising prices in the Iranian steel ingot
The price of steel ingots, including the half exchange rate, was offered yesterday at a base price of $ 505 per ton on the commodity exchange. If we consider the free market subsidy, we will see the price grow up to $ 600. It should be noted that in the current situation, the price of steel ingots as a base compared to world prices is about $ 91 per ton lower.
*** risk of arbitrage in the Iranian ingot market
Reducing the risk of arbitrage in the Iranian ingot market The difference in the price of steel ingots in Iran and other countries in the region is not so great that it can create an arbitrage threat in the Iranian market because the risk of exports from Iran is very high. The convergence of Iran’s export rates and international markets has also made it harder for purifiers. The situation in complementary goods and sub-categories of steel ingots is similar to the price of steel ingots. . The latest price of Iranian export ticket is $ 577.5 per ton. It is worth mentioning that the latest rate of Turkish scrap imported from the United States is $ 429 per ton.
***reasons for the growth ofsteel ingot prices
Assessing the reasons for the growth of ingot prices in the international market But the question is why the price of steel ingots in the short term in the whole world should record such growth? The most important player changing the price of steel in the current situation is iron scrap. Iron scrap, which has been a major factor in the rise in the price of steel ingots . and by its nature, rebar and wire, has experienced price jumps between $ 24 and $ 40 in various markets over the past week. Scrap from the United States rose from $ 442 to $ 491, Europe from $ 445 to $ 475, and finally scrap from the Baltic Sea jumped $ 34 from $ 462 last week to $ 488.
***steel ingots in Iran Stock Exchange
Welcoming the supply of steel ingots in Iran Stock Exchange The interesting point in the trades on the first of April, 1400, is that the buyers of steel ingots, knowing that the market is influenced by global factors, have taken a growing trend, but still showed interest in buying this product. It is unprecedented in the market that the growth of commodity prices coincides with the fall in the price of the dollar and this concurrence is welcomed. In recent days, we have witnessed a fall in the price of the dollar due to the news related to the Barjam negotiations.
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