In mid-August, news broke that stability was returning to the rebar and beam market. But it seems that the quiet days of this market did not last long. The growth of the Nimai exchange rate led to an increase in the base price of steel ingots.
The price range for steel H-beam in Europe widened this week with producers achieving increases although distributors struggled to pass on the higher costs, sources told Fastmarkets on Wednesday September 16.
The steel market has been inflamed since earlier this year. Then we witnessed the unjustifiable growth trend of the price of long steel sections in the commodity exchanges and the free market.But for several days now, this growing trend has stopped and even taken a downward path. Undoubtedly, a significant part of this price decline should be attributed to the cessation of the upward trend of the dollar rate and its entry into the downtrend channel. Such unrealistic fluctuations cause irreparable damage to the country's industries. It seems that in recent months, despite the growth of steel production, its exports have decreased. It is as if prices are so high in the domestic market that producers are reluctant to sell in the global market. Meanwhile, steel production in the country is far higher than real steel demand; Therefore, the export of these products should not be reduced in any way, because in the long run, it will provide the ground for a decline in production for these industries.