Fluctuation and retraction of the price of steel products in İran

All financial markets, especially the iron and steel market and the foreign exchange market, are characterised by a certain degree of uncertainty in the current situation.
The uncertainty in the iron market is due to various factors, mainly the decline in the dollar exchange rate, the stagnation of demand, the lack of liquidity, the anticipation of the presidential election, the helicopter crash, etc., all of which lead to inactivity and stagnation in the iron market. The iron market has changed in the current time frame.
Experts and analysts in the field believe that the situation in the iron market will improve after the elections. However, it remains to be seen what measures will be taken in the area of the economy and the steel industry.
Currency and gold prices fluctuated wildly last week. On the one hand, the dollar struggled to hold its 15-month support in the price channel. On the other hand, recent events have caused the dollar to fluctuate in various ways, and as a result, it has unfortunately lost the support it had in the stock market. Moreover, the market maker is determined to break the support level and wants to take it to a very low level.

All of these events were clearly seen on the trading floor last week and analysts believe that the faster the market maker reaches his lower targets for the dollar, the faster the psychological strain on other markets will disappear.

The dollar rate retreated again and this, in turn, causes fluctuations and also the retreat of the prices of some products in the iron market. In the past week, the steel market, like the currency market, has been in an uncertain recession. Currently, everyone is waiting for the final results of the elections to be clarified and until then, the market is in a weightless and absolute uncertainty phase, whether or not there is any news of a boom in mobility, or there are any buyers.

For this reason, iron prices were almost relatively stable in most sectors, and minor fluctuations have been reported in some products. For example: Most of the simple and ribbed rebar manufacturing factories have kept their product rates constant this week. However, this does not include the status of all factories and some of them reduced the price of simple or ribbed bars between 100 thousand and 200 thousand tomans.