Will traders’ withdrawal from the iron / iron market get cheaper?

According to Tejarat News, a member of the board of directors of the Iron Traders Union said: in the last three weeks, the price of rebar and iron has not increased. The market is stagnant due to the start of the Vienna talks. Traders seem to be afraid of market conditions due to political events and are not buying goods at the moment.

With the start of the seventh round of the Vienna talks, some market participants believe that iron will not become cheaper after the talks. Because one of the factors in the price of iron is the trend in the price of the dollar, which, according to ironmongers, the government does not allow the price of the dollar to fall in order to finance it. Therefore, traders believe that whatever the outcome of the negotiations, rebar and iron will not become cheaper.

Can negotiations reduce the price of construction materials, including iron?

What is the price of rebar?

Mohammad Sadegh Chitsaz explained to Tejarat News: Today, rebar was traded at a price of 15,900 tomans to 16,000 tomans. Each kilo of iron beam has been bought and sold at a price of 16 thousand tomans to 16 thousand and 300 tomans.

He continued: “Iran’s agreements in Vienna have no effect on reducing the price of the dollar.” Therefore, one of the influential indicators in the iron market is the price of the dollar. The dollar price growth may be small if the negotiations are fruitful. Therefore, the price of iron and rebar fluctuates accordingly.

“If builders are planning to start or complete a project, today is the best time to buy rebar and iron,” he told the builders. Because in the long run, its price may increase.

Earlier, Mohammad Sadegh Chitsaz, a member of the board of directors of the Iron Traders’ Union, said: “Usually, the boom returns to the market in February and the volume of transactions increases.” This increase in demand makes the price of rebar slightly higher.

Referring to the impact of the negotiations on the economy and market conditions, Chitsaz said: “Borjam has no effect on compensating the country’s budget deficit.” The government sells bonds to large industries to make up for its budget deficit. Shareholders also withdrew their money from the stock market in order to buy bonds.

He said the government had forced large industrialists to buy bonds to make up for the budget deficit. This has caused the steel symbol to become negative and a large number of shareholders to move out of the stock market.

To read more, read the news about the price of Azar 1400 rebar.