In recent days, we have witnessed a doubling of steel supplies in a situation where demand in the steel market has approached zero. Except for a few large state-owned companies, there is no news of order registration in the commodity exchange. The free steel market is also experiencing a worse situation. The deep recession in construction is the main cause of this crisis in the steel industry.
Statistics of the Iranian Steel Association show that despite the sluggish market in the domestic market, the export situation is favorable. In June, Iran's major steelmakers managed to export 916,000 tons of ingots and steel products, which has a jump of 104% annually. Of course, the domestic market must also be energized to start again.