CHINA REBAR: Sentiment bearish despite higher mill offers pushing up prices China import billet prices largely flat but sellers bullish Iron ore market on Chinese market holidays Alliance of Russian steelmakers to protect environment China Development and Reform Commission efforts to supply steel power
The decline in global iron ore is significant due to China's dictatorial policies. Following the shocks in the Chinese market, the Dalian and Singapore stock exchanges were also affected by these developments and reduced the rates of iron ore and other related markets. A drop in iron ore prices could lead to a drop in demand and prices in the short term. The Chinese market will definitely have the strongest impact on the market.
The domestic rebar market is experiencing its latest uptrend these days. It seems that the rebar price ceiling has been introduced in the market in recent days. Due to exchange rate fluctuations, we have seen price peaks in the market, but the rate of 18,000 tomans per kilo for rebar is most likely the ceiling rate in the current market conditions.
Iran's exports are in a situation where if there is underemployment and mismanagement, there will be an irreparable setback. A study of the value of steel exports in the first nine months of this year shows that Billet and Bloom had the largest share of exports with a share of 47% in the period, followed by slabs with a share of about 27%. With the loss of countries like Iraq in the export market, we have to think of an alternative.