In this analysis, we examine the performance of steel markets in the past week. The majority of the market has not followed the same path. This week, we faced fluctuations in the price of the dollar, which caused the direction of commodity markets to change. Some markets quickly aligned with the dollar, while others remained out of the caravan. The conditions of the Iranian steel market can not be analyzed in any way. Uncertainties in this area have reached their peak and this is unprecedented. In the following, we will try to tell you the performance of the markets and what we have received from this week’s trading output. Please stay with Artan Press until the end.
*** Evaluate the market for cans and profiles
We start the market evaluation with cans and steel profiles that have the quietest trading level in the market. In the market of cans and profiles, we are witnessing an almost constant trend; The price of cans produced from 2 mm thick sheets was traded this week, mainly in the price range of about 23 to 24 thousand Tomans, depending on the type of sheet used. The sector has not recorded any price changes this week compared to last week. Due to the fact that the market for cans and profiles has been severely blown away due to the severe recession in construction, we are witnessing that the market is reacting strongly to the increase in prices.
*** Dull molten beam market
In the smelting market, the growth of prices was accompanied by a very slow slope, and in practice, the nature of the market can be considered stable and without shrinkage. But still, the conditions were a little better than the cans and profile market. In this week’s market, we saw an increase in the price of branches of 10 to 20 thousand Tomans, depending on the size of the beam in the market. This market is also in a state of stagnation due to the severe recession of construction, especially large and large constructions.
*** Stabilize the growth of rebar prices in the domestic steel markets
The rebar market always has a glimpse of world iron ore prices. Due to the growth of world iron ore prices on the one hand and the growth of the dollar in the past week, we were the growth of 50 to 100 Tomans of rebar in the open market. It has been said before that the price of rebar has reached its historic high, but the market has shown that it does not intend to lower the price or even stabilize at a certain price due to the constant demand for it.
It seems that the floor of the proposed rebar price in the market, again, is 15,000 Tomans, including VAT, and is mainly traded at 15,100 Tomans and above. The ribbed rebar market has recorded a decrease from 50 Tomans to stability to an increase of 50 to 100 Tomans and currently it is not possible to depict a specific trend for it.
*** The latest changes in the average rate of induction ingots in the domestic steel markets
Unlike the continuous retreats of the export markets, there is currently no sign of a retreat on the roadmap of this market. It seems that currency inflammations and the upward or upward trend of the dollar exchange rate are one of the important factors neutralizing the declining commodity trend in the domestic market. The average index rate of induction field on the 8th of July; About 14,160 Tomans per kilogram including VAT (about 12,990 Tomans without VAT) was calculated compared to the previous day; It has been accompanied by an increase in the average price of approximately 100 Tomans. In general, this area is strongly dependent on the price of the dollar. As the dollar rises, the market is likely to rise on Saturday.
*** Cold sheet market in severe recession in steel markets
The cold steel sheet market, on the other hand, has been declining. In recent months, when there was an opportunity to buy a product (due to a significant drop in the dollar), many large consumers had replenished their inventory. This issue has led to low demand for this market in the current situation. On the other hand, due to the high storage costs of this product, we see that manufacturers have reduced prices. The result of transactions in this area has been a significant reduction of 1930 to 2100 Tomans per kilogram, including VAT, the base rate of supply of cold sheet B in the commodity exchange. If tomorrow in the above product transactions on the commodity exchange; Buyer competition does not equal last month’s trading ceiling; It will definitely have a direct impact on lowering market rates.
*** Statistics of iron ore, pellets and concentrate transactions in the commodity exchange
Overall, the steel exchange went through a sharp drop in demand last week. We saw offers for which there were no buyers. Several major internal and external factors are involved in the emergence of the market these days, which we have already addressed in the chapter. The market these days is a showcase of zeros in demand and will likely continue until the end of this government. The growth of the dollar price in this market is also very probable. Because no one will take responsibility for the current situation, we have to wait for weaker markets in the future.
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