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    Commodity exchange method in determining domestic steel prices

    شناسه : 49173 18 خرداد 1400 - 10:30
    Iran's steel market is in a state of disarray due to rising domestic steel prices under the pretext of rising prices in the iron ore and flat steel sectors. Continuation of this path will increase prices in the shadow of the recession. But the falling dollar has prevented a complete reversal of the market. It remains to be seen how long prices will remain on the ceiling.
    Commodity exchange method in determining domestic steel prices
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    Iran’s steel market has entered a new phase of pricing in a situation where we are witnessing domestic steel prices approaching foreign prices. In practice, transaction prices in the domestic market have strongly converged with transaction prices in Iranian ports. This issue could hit the Iranian steel market in the medium term. Commodity exchange prices in the steel sector need fundamental changes. We will deal with this issue in the following. Be with Artan Press.

    *** Take a look at the price trend of domestic steel in the commodity exchange

    A number of rolling stock foundations are trying to induce price increases in the ribbed rebar market. But the market is weaker than that. Commodity exchange prices in the steel sector are almost the same as the prices offered to foreigners in Iranian ports. The market maker in the current situation is looking for an excuse to justify irrational prices in the current market. On the one hand, supply pressures and the psychological atmosphere of the global steel market are currently the biggest obstacle for behind-the-scenes hands to raise steel prices.

    *** Evaluation of steel ingots in terms of value

    A clear example of commodity exchange prices can be found in the ingots section. Bullion trading on Tuesday last week on unreasonable prices induced by some large steelmakers on the base rate of +3 supply on the Commodity Exchange was an attempt to induce a wrong address to the country’s long steel market, with any kind and with any existing flaws. Transactions took place to some extent. Wrong address because the export rate of steel has fallen and there is no convincing reason for the demand side to buy steel in the domestic market at these prices. This growth may be justified in the ingot sector. But in no way can it justify an increase in the price of domestic steel.

    *** Impact of raw materials on domestic steel prices

    Another issue in the domestic steel market has affected the price of domestic steel. Because the price of raw materials has risen over the past two months and all the previous pricing equations related to Cadal have collapsed, there is a misconception that prices could approach their export base if prices rise in the global market. Prices will also have an excuse to increase prices, but if prices fall in the global market, the Iranian market will have problems.


    Depending on the cycle of converting concentrate to ingots, it takes an average of 40 to 60 days, if during this period the price of ingots in the world market falls, the price of minerals will not fall at the same rate. Therefore, if the price of ingots, rebars or sheets in the world market decreases, the price of raw materials will not change with the same time interval in the metal exchange.

    *** Shadow of losses on the country’s major steelmakers

    But how important is the role of large steelmakers in the price of domestic steel? In the case of large producers such as Mobarakeh Steel or Khuzestan or Chadormelo and Zobahan, reducing export prices will cause losses until they are in balance with the price of raw materials. In other words, these companies will be accompanied by accumulated losses. Last week, the highest bid price was $ 585 in a tender for the sale of ingots in one of the largest factories in the country, and the second person had registered his trading demand with a long distance of $ 540. Last week, it sold for over $ 640. What seems to be happening is that the shock of rising global prices has subsided and domestic steel prices must accept this fact.

    *** Change the base price of ingots and start fluctuations in steel prices

    The method of determining the base price of ingots and steel products has changed in recent weeks. The new conditions are such that producers can bring their product to this market at a price in the range of minus 3 to positive 3% of the average selling price of the product in the previous week. This range was set for last week’s supplies in the range of 11 thousand 860 tomans to 12 thousand 590 tomans per kilogram.


    In the current situation, the market of ingots and steel products is still hot in different markets of the world, especially the markets of neighboring countries. The price of domestic steel is still fluctuating. Most steel ingot manufacturers offered their products at a price close to the price limit set in the trading ring of the Commodity Exchange. According to the latest news, the average price of steel ingots offered in this market was 12,540 tomans. This shows that the price of domestic steel is currently at the ceiling.

    *** Expect the growth of domestic steel prices in the shadow of the recession

    In the current situation, due to the potential growth of demand in recent months and the relative easing of the Rona crisis in the country, shopping in the ingot sector is booming. The transaction history of domestic steel prices shows that the average selling price of steel ingots on Tuesday, June 25, reached 12,590 tomans per kilogram. Taking into account the value added tax and commissions of the stock exchange, the price of ingots for the roller will be equal to 13 thousand and 760 tomans per kilogram. On average, each kilogram of rebar produced with this ingot will have a price of 14,500 Tomans. If the rebar produced with this ingot is to be offered in the open market, including VAT, shipping costs and the merchant’s profit, this rebar will find a price in the channel of 16,000 Tomans.

    *** Threats to current prices for trading volume

    With this formula, for the price of domestic steel, nothing but a heavier recession in the iron and steel market will cast a shadow. The market is in a situation where in the current conditions of the free market, long sections of steel at prices of 14 thousand and 500 Tomans are not bought. The market is in a complete slump. In such circumstances, the purchase of this ingot can be justified only with the purpose and motivation of export. All the news indicates that the Chinese government is strongly opposed to Seeks to control steel prices, and this will have a negative impact on our export steel prices and consequently our domestic market. Economic in other parts of the world, especially the United States, Europe and finally India.

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