The commodity exchange did not see any significant changes in today’s trading compared to yesterday. Only in some steel products, noticeable changes have been observed, which we will evaluate in the following. The downturn in commodity exchanges is evident, especially in the metals sector, and this is likely to continue until the end of the week. Please be with Artan Press.
*** Commodity exchange transactions in Mobarakeh Steel Valve
Commodity exchange transactions in the metals sector on Monday did not change significantly with the first two days of the week, and as the end of the week approached, the volume of transactions was fixed or sometimes accompanied by an insignificant decrease. On Monday, the Commodity Exchange hosted the supply of 27,000 tons of Mobarakeh Steel sheets. The most significant offers in the past day can be attributed to Mobarakeh Steel offers
*** Relative growth of prices in the steel sheet group
According to the prices shown in the table above, the base price of the cold sheet produced by Mobarakeh Steel Company is 21,000 Tomans per kilo. The base price of this product has increased by 4% compared to its previous supply. The reason for the increase in prices in the current market, despite the fact that not many purchases have taken place in the market, can be traced to the rising global steel prices. Apart from the transactions of Mobarakeh Steel and Khuzestan Steel in the Commodity Exchange today, the growth rate was not felt much in the transactions and today’s purchases are due to the appreciation of the dollar rate by 400 Tomans and the fear of the exchange rate rising.
*** Powerful supply in the mineral and energy group
Today in the commodity exchange, in addition to significant offers in the steel sector, we also saw strong offers in other commodity groups. In this regard, based on the observation of statistical information of the Commodity Exchange, 1,285 tons of copper wire, 20 tons of copper wire and wire and 20 kg of gold ingots were offered in today’s Commodity Exchange. Also, 13 thousand and 30 tons of bitumen, 4 thousand tons of sulfur and 800 tons of base oil were offered in the export hall of Iran Commodity Exchange. According to the Commodity Exchange Statistics Center, the Petroleum and Petrochemical Products Hall also sees the supply of 47,880 tons of bitumen, polymer materials, sulfur, lob cut and base oil. This power of supply in the current situation shows that producers are as afraid of fluctuations in the dollar exchange rate as buyers.
*** Plan for coin trading options on the Commodity Exchange
According to the announcement issued by the Commodity Exchange addressed to all derivatives traders, gold coin options trading contracts with the maturity of September 1400 will be launched and traded on Monday, May 17th of this month. Optional contracts without price fluctuation begin with an opening period of 30 minutes at the beginning of the trading session and continue with the normal trading period. This is an approach that the government has taken to control liquidity in the last days of its operation, and it can practically drag the liquidity to the second half of the year. We have to see how many fans and applicants these coin futures contracts will have.
*** Price fluctuations of Bloom ingots in the commodity exchange
Based on this information, the base price of ingots has been set at 117,335 rials, which is equal to the average price of ingots discovered last week and 1.7 percent lower than the base price of last week. It seems that prices will increase in the field of ingots. Of course, with the rise in iron ore prices in line with what is happening in global markets, this will happen more quickly. Therefore, it is predicted that next Sunday’s trading on the Commodity Exchange will be attractive for iron ore.
In particular, Golgohar, Kegel, which is the first company to supply iron ore, and Kachad, Chadormelo and other elders will also offer iron ore on the stock exchange, which will help the process of discovering the real price downstream of steel. This will probably lead to the determination of the base rate of supply of Bloom ingots in the commodity exchange. In today’s market, the price of Bloom ingots decreased by about 200 tomans per kilogram compared to the base rate of last week or about 1.7 percent less than the weighted average trading average.
*** Apparent recession in commodity exchange sub-market transactions
In the secondary market of Iran Commodity Exchange, 40 tons of aluminum profiles were offered today, which, like other steel products, with the exception of Mobarakeh Steel, was not very well received. Currently, commodity exchange activists have been able to manage the market. Because the depreciation of the dollar has been offset by an increase in the rate of export bullion. It seems that steelmakers are very lucky with this recent sharp drop in the dollar that a sharp rise in global steel prices has prevented steel prices from falling in the domestic market.
*** The relationship between the exchange rate and the commodity exchange recession
In the current situation, if the dollar rate did not change, we would see a deeper recession in the domestic steel market. There are now whispers of expectations of an increase in the base rate of bloom ingots. If this is achieved, the market will definitely experience a heavier recession. Currently in the market, we see an opportunity to reduce the dollar exchange rate, which has led to trading at a minimum level.
Our steelmakers are very lucky that despite the significant depreciation of the dollar; With this sharp increase in the export rate of ingots in international markets, they are not accused of selling domestically in the domestic market; Otherwise, the Commodity Exchange would have had to raise the base rate of bullion supply this week Reduce .
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