The increase in the price of iron after the terrorist attack on Ismail Haniyeh in Iran

The upward trend in steel prices started in the past few days and continued yesterday. With the attack on Ismail Haniyeh, the iron market received another shock and product prices increased again.

Among all subgroups of iron, the price of rebar and beams experienced the highest increase. Several factors have contributed to this, with the rise in the price of the dollar being one of the most important. In general, the assassination of the head of Hamas' political office and one of his bodyguards caused emotional fluctuations in most markets, especially in the currency and iron markets.

In the past few days, the prices of simple and ribbed bars of different sizes and thicknesses have increased by 100 to 500 tomans in a large number of production factories. However, a few factories producing rebars have announced stable prices for their products. The base price of ribbed rebar was announced at 27,700 to 28,900 tomans per kilogram and the general trend is upwards.

All kinds of sheet metal price has also increased by 100 to 400 tomans over the past day, while other HRC and CRC have also been on an upward trend. In fact, the prices of galvanized sheet, etc. have increased by 100 to 300 tomans. Of course, some factories producing HRC and CRC did not report any increase or decrease in the prices of these products. The daily price of profiles, galvanized steel and angle also increased in most factories according to the general market atmosphere.

Consumer and capital demand is still in deep recession in the domestic market and there is no news from buyers and investors in this market. Nevertheless, some sellers and producers of steel products are raising their product prices continuously.

There is a strange contradiction between the supply and demand of steel products in the iron market. This is because consumers are moving away from the market due to financial problems, reduced purchasing power, lack of liquidity, etc. and are not deciding to buy steel products, but at the same time sellers are raising prices every day and trying to stimulate demand in this way. In the open market, the price of billet is constantly increasing. Therefore, it is very difficult to predict the future of the market, especially the prices of products such as reinforcement and beams, based on current conditions, and it is not possible to make an accurate forecast. The increase in the price of iron after the terrorist attack on Ismail Haniyeh in Iran.

There is a strange contradiction between the supply and demand of steel products in the iron market. Because, on the one hand, consumers are moving away from the market due to financial problems, declining purchasing power, lack of liquidity, etc. and do not decide to buy steel products. But on the other hand, sellers are increasing prices day by day and trying to stimulate demand in this way. In the open market, the price of billet is constantly increasing. Therefore, it is very difficult to predict the future of the market, especially the prices of products such as reinforcement and beams, based on current conditions, and it is not possible to make an accurate prediction. Some analysts and experts in the field of iron believe that international tensions, especially the military conflicts between Israel and Lebanon and the terrorist attack on Ismail Haniyeh in Tehran, will push prices higher in the coming weeks. Of course, in addition to iron, these factors could also affect the foreign exchange market and other financial markets, causing them to fluctuate significantly.