There is an issue in the form of alarms in the domestic steel market of Iran, which caused us to analyze it on the last day of the week. Iran’s steel market has been heavily dollarized and has derailed the market in a situation where global steel is at its peak and there are many uncertainties in Iran’s political issues. In this note, we will evaluate the risks and fears in the market. Please be with Artan Press.
*** Growth of commodity markets in line with the dollar exchange rate
Our commodity markets are currently experiencing price growth in all areas, including automobiles, consumer markets, and steel, on the upward trend of the dollar. The price of the dollar broke the price record in the new year yesterday, and this issue caused concern among market participants. It has been 15 months since the domestic consumer was affected by this trend due to the unbridled upward trend of the global steel market; It was constantly affected by rising prices. Now that the global market was in turmoil and the domestic consumer had adjusted to the opportunity, the dollar began to break the market again. This situation will end to the detriment of the entire steel market chain.
Even speculators need to survive in order to profit from this market. For several days now, the zero signs have been showcased in the commodity exchange market. The flow of liquidity must be strengthened, otherwise the domestic steel market will not be shaken by the end of the year. If the summer opportunity is missed for construction projects, the market recession will be repeated until next year.
*** The impact of domestic and international factors on the growth of steel prices
The impact of these two fundamental variables on the domestic steel market of our country; In other words, the dollar exchange rate and the world exchange rate in recent days have caused severe fluctuations and inflammation in the domestic steel market. Commodity exchanges also showed a sluggish growth due to rising prices in commodity exchanges, which was also supported by the dollar. But this trend shows that the stock market is not prepared for the growth that society envisioned. Total index against a strong resistance area; He is passing slowly through this area and trying to cross it, but he could not cross it at least 4 times. Currently and apparently, the inflammation of the foreign exchange market has helped this market psychologically, and if the index can pass through this area; This area will become a good support for this market.
*** The crisis of dollarization of steel in the domestic market
$ ۲۵,۴۰۰ in the current situation will put all the pressure on the consumer. Some group considers the main factor in the situation of the approaching distance between the ingot rate and the final product and the reduction of the rolling margin in the commodity exchange as sanctions and the weakening of the export market of the rolling field; Another group attributes the problem to past cheap export sales, which has prompted Iran’s neighbors to impose anti-dumping tariffs on Iran’s exports and final products. Whatever the situation, the Iranian steel market will remain in a deep sleep until the price of ingots in this area increases. It is necessary to think fundamentally about the situation in the field. Continuation of this process will close this field and paralyze the wheel of steel production in the country.
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