Iron and rebar prices today / Why did buyers withdraw from the iron market?
According to Tejarat News, it seems that the positive trend of foreign exchange market negotiations has affected. The metals market was also affected by the declining trend of the dollar. Studies show that the price of rebar today, December 10, 1400, decreased by 50 Tomans compared to the previous five days. Also, rebar became cheaper by one thousand tomans during this period.
In this regard, a member of the board of directors of the Iron Traders Union told Tejarat News: The reason for the decrease in the price of beams and rebars is the positive trend of the negotiations. Today, the price of 14 thousand and 700 tomans per kilogram of rebar was traded. Also, each kilo of iron beam has been sold at a price of 14,900 tomans.
Mohammad Sadegh Chitsaz explained: The downward trend in the price of beams and rebars continues. The price of these two metals is expected to be about 100 to 200 tomans cheaper by tomorrow.
“Despite the reduction in the price of beams and rebars, there is no demand for these two products,” he said. The iron ore market is stagnant and buyers are currently retreating as they wait for the outcome of the negotiations to be determined and for further rebar and iron ore prices to fall.
Export rebar to Thailand
Now, due to the recession in the market, part of the rebar is exported to other countries. Referring to the boom in rebar exports, Chitsaz said: “Mainly iron sheets, ingots and rebar are exported to countries such as the United Arab Emirates, Turkey, Oman, Vietnam and Thailand.” Despite the sanctions, rebar exports have not decreased.
According to him, the decrease in demand in the Iranian market has boosted the export of rebar and iron sheets.
It seems that the power outages of the steels are continuing and the electricity of these industries has not been connected yet. Last week, Chitsaz, a board member of the Iron Traders’ Union, said that the price of iron and rebar was declining due to the resumption of nuclear talks. The steelmakers’ power was cut off, but this seems to be a short-lived power outage and has no effect on the price of steel and rebar.
To read more, read the news about the price of D-1400 iron.