Following the incident at the Dahong Kai iron ore mine in Xinjiang, iron ore prices are likely to rise in the coming days on the Dalian Stock Exchange in China. The rise in iron ore prices in the Chinese market over the past three days can be attributed to this factor. Additional information will be transmitted via this channel soon.
Imports of steelmaking raw materials into the United States fell by 14.56% month on month in April, primarily due to reduced inflows of direct-reduced iron (DRI) over the period, according to the latest data from the US Census Bureau.
Similar to Monday in the middle of the week, we saw a stabilized trend of rising steel prices in the domestic market. Continuation of this trend can justify the import of steel for the first time in Iran. The election climate and the rise of the dollar, along with rising global prices, have given rise to this volatile climate.
In the current situation, we are witnessing rapid fluctuations in the foreign exchange market, especially the dollar. This trend is likely to continue until election day. The price of the dollar these days is affected by the rate of dollar remittances. The most important and key factor is the scattered news of the negotiation process.
A capital market analyst has said that in recent days, new sources of finance have shifted from brokerages and fixed-income funds to buying stocks, and that the market's uptrend has begun logically. Capital market news has reacted positively to recent election news.
Product of two companies, Kavir Steel and Khorasan Steel, which have the same quality. In one, only 2% of the sales volume took place in the commodity exchange, and in the other, it was 83% more. This has created scandals over the sale of one of the factories outside the stock market.
China's steel market transactions have been affected by the government's relatively long holiday this week, environmental factors and price controls. Together, these factors have exacerbated the rise in prices in the coming days. It remains to be seen in the coming days where the price trend in the rebar and billet sector will go?