While all market participants expected the prices to fall and the market to enter the logical path of prices after the presidential inauguration, we are witnessing inflammatory days in the hardware market. The increase in iron prices in recent days is due to currency and political events in the country. It seems that with the continued growth of the dollar, the situation of prices is very serious and irrational, they have taken the path of growth.
It seems that the stabilization of these prices will make the conditions for civil and industrial works very difficult. The new government and Minister Samat have a very challenging path ahead. In the following, we will evaluate this issue. Please be with Artan Press.
*** Deterrence of the dollar exchange rate and rising iron prices
The price of the dollar on Monday even crossed the border of 27 thousand and 500 tomans to prepare market participants for higher prices. This arrogance of the dollar exchange rate gave the growth of iron prices a good excuse to stabilize this path. Yesterday we saw that despite the fact that some iron markets are empty of customers, prices in the iron market have also increased. The daily prices of rebar often increased and the stability of a company was also observed. In this regard, the corner market and inability to experience a price increase of 100 to 200 Tomans. Beam manufacturers have increased their prices by 100 and 200 tomans so far.
*** The eye market is waiting for the new rate of steel ingots
The whole market is waiting for the new bullion rate in the market. The growth of iron prices will be practically justified if it is accompanied by an increase in the price of ingots. To raise stabilized iron rates. The market is going through fateful days. The government should be a little more cautious. Yesterday, in a situation where the dollar rate crossed the half channel of 27 thousand and the dollar is sold at a price of 27 thousand and 510 tomans. News from the iron market indicates that prices continue to rise.
On the other hand, the base price of the declared ingot, the supply of which, of course, is in an aura of ambiguity, has grown by about 190, equivalent to 1.5 percent. This will also mean an increase in the price of sections on the stock exchange. If the ingots are not supplied, there is room for inducers to increase their profit margins above 50%. Therefore, continue to use the vacuum of the establishment of the government and the regulatory body on the fire of bad market prices.
*** Significant difference in iron prices in the stock market
Currently, the market price gap with the commodity exchange is large. But the same alarms can also complicate market conditions. Because at the moment, due to the lack of a new cabinet, the interior is neither to control the foreign exchange market nor steel. Yesterday, the price of rebar increased in most of the selling companies. We also saw price stability and slight reductions in some companies. The beam market fluctuated differently yesterday, but we mainly saw price growth in this market. The steel profile market has experienced significant price growth. This product has witnessed an increase of 1000 Tomans per kilogram.
*** Growth of 500 rials of rebar in one day
Although the dollar has risen sharply in recent weeks, it has slowed in recent days. Despite the market resistance to prices, we see that rebar manufacturers have increased the price of their products. Yesterday, the price of rebar increased by 400 to 500 Rials per kilo. The foreign exchange market has not reacted to the Japanese foreign minister’s visit, which is said to send a message to Iran. On the other hand, the situation of Herat foreign exchange market as one of the two cross-border cash foreign exchange markets is still in a state of ambiguity. Political issues seem to keep market trends on the rise.
*** Political factors affecting the growth of iron prices
The rise in iron prices, in addition to political factors, is also strongly dependent on economic issues. Due to the decline in cement and steel production due to blackouts, the situation in the Nima foreign exchange market does not seem very good, which, along with the budget deficit and the ambiguities of the Vienna talks, has increased currency fluctuations. In the iron market, however, the dollar continues to grow despite the significant decline in world prices on the one hand and the continuation of the severe recession and the lack of consumer demand for parts. Of course, the non-supply of ingots in the commodity exchange by steelmakers and the continuation of induction pricing with profits above 40% has also ignited prices.
*** Opportunism of speculators in the transition phase of governments
It seems that until the government is fully established and the existing ambiguities are clarified, everyone will catch their fish from this muddy water, and the closer we get to the end of the chain, the more problems the producers face. In the iron market, we have seen an increase in the price of ribbed rebar by the companies that produce this product. All rebar manufacturers except Shahroud Steel, which kept the price of its rebars constant. They had a price increase of 50 to 550 Tomans. The lowest price of ribbed rebar 14 belonged to Bardsir Kerman with a price of 17 thousand and 400 Tomans and the highest price of rebar 14 was for Golestan Steel which was announced as 18 thousand and 600 Tomans.
*** Rising prices of beams and profiles
In the field of beams, most factories made their products more expensive. 100 and 300 kg beams and 10 thousand branch beams became more expensive. Corner and stud manufacturers also increased the price of their products by 100 to 400 Tomans. But it was the Iranians who kept their prices stable. Profile manufacturers did not announce the price today. But the only company producing this product was Nikan Profile, which increased its thickness 2 profile by 300 Tomans.
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