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
According to the Iranian Steel Producers Association (ISPA), in the first five months of this year (March 21 to August 22, 2021), Iran has seen a significant reduction in steel production. ISPA data show that producers produced 10.8 million tonnes of semi-finished products during this period. This amount of production, which has decreased by 12% compared to the previous year, is in the Iranian steel showcase.
In an effort to prevent air pollution, China is reducing its steel sector, which produces between 10 and 20 percent of its carbon emissions. Mining companies are adapting to China's new production targets. "The growing sharp decline in steel production in China in the first half of this year, as confirmed by the industry leader in China in early August," the vice president of BHP, the UK and Australia, the Australian mining giant Anglo, wrote in a note in late August on the 2021 outlook. China's pressure on global steel supply indicates that shortages of many products will continue until demand and supply stabilize after the epidemic.
Russia also expressed hope in this regard. Ulyanov, the Russian Federation's permanent representative in Vienna, said that 90 percent of the issues had been resolved in the nuclear talks. But after the Iranian election, everything stopped. The results of Grossi's visit are positive, which means that there is no obstacle to the continuation of the nuclear talks. With the recent agreement between the Agency and Iran, a serious danger has been prevented.
And noticeable changes. Every effort has been made to enable the commodity exchange to follow the path in which price discovery takes place. The market desperately needs an organized order in pricing. This plan seems to have a high chance of success if implemented properly
The foreign exchange market has shown declining signals since the beginning of the new presidential term. But given that the government is currently involved in higher-level economic issues, some market makers are trying to keep prices high. Foreign exchange market expectations seem to be declining. But the downward trend in the dollar is highly dependent on government performance in the fall. It seems that
World gold at the end of the week (Saturday) could not resist the result of falling prices. In this regard, we saw a decline in the value of ounces of global gold in the weekend market. This process started from the last days of the week. At the end of the week, this process accelerated. Global gold faced a new wave of sales in the weekend. Finally, near the level of $ 1,750, the trading route ended the weekend. This caused the price of an ounce of gold in Iran to decrease. This has had a domino effect on the dollar and foreign exchange markets.
However, the mechanism of supply of cement and steel in the commodity exchange can help producers, housing builders and buyers by eliminating intermediaries. But this scenario is still worrying. Meanwhile, one of the current problems is the supply of half and half of cement in the stock market, where some of the cement enters the stock market and others are sold directly.
The cement market has had unprecedented days in its trading history this summer. The price of the cement market went so far that one can hear talk of 70,000 Tomans per bag of cement in the sales market. The most important reason for the fluctuations and inflammation of the price of this building material can be considered in the continuous cutting of the price of production units. Because this year, for the first time, we saw this trend in electricity distribution. If the rains are limited in the second half of this year, it is likely that next year the living conditions of the people will be very critical. Environmental crises in the current situation will overshadow all markets
He has pointed out this point. A noteworthy point is the $ 20 to $ 30 gap between Iran's export ingot rate and the CIS. It seems that Iran intends to pave the way for its steel price growth with the growth of world iron ore prices in the coming months.
The most important news from the South American steel and mining market is to Brazil. Vale Mining Company has recently reduced its projected iron ore production capacity for next year. Excavations at the company appear to have stalled. This could overshadow the stockpiles of Chinese and other raw material consumers. The downward trend in the […]