An increase of 75% in iron and steel prices
Mining News Pro - The chairman of the union of iron and steel vendors reported an increase of 75% in iron and steel prices and an increase of more than 100% in prices for iron and steel products, saying that the market for these products is subject to global prices and, on the other hand, is influenced by foreign exchange earnings by exports. And although the surplus of domestic demand is exported, the appetite for export earnings has also affected domestic prices.
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According to Mining News Pro -This year, the Iranian economy faced with rising market prices, especially raw materials, due to the growth of the dollar or, in other words, the weakening of the national currency. Even products that are not affiliated with other markets, are fully produced in the country, and even supply some From other countries, they have experienced price increases.

Economic experts do not know the significant growth of indigenous raw materials in relation to foreign exchange earnings, and believe that products such as plastic raw materials produced entirely by petrochemicals are more cost effective than domestic ones; And if the product is sold in the domestic market, its price is calculated with the export dollars.

This happens when the steel market is no different. In this regard, the head of the iron and steel dealers union believes that despite the large steel producers in the country due to the attractiveness of foreign exchange earnings of products to target markets, and products that go to the domestic market Available at the rate of exchange earnings.

Mohammad Azad continued with regard to the iron market situation. According to the past experience, the expectation of the growth of prices was due to psychological inflammation, which led to the devaluation of the national currency; hence, with the fall in the value of the national currency, commodities such as iron and steel In deals with a special position, they are subject to extreme price fluctuations.

"In the current situation, despite the fact that iron and steel are used in many industries, domestic production is so much that domestic demand surplus is exported to the target markets, in the current situation where the value of the national currency has fallen sharply, export of domestic productive assets In order to make foreign exchange earnings in rial attractive for some factories, and to earn that even in the domestic markets, they increase the price of domestic products and actually deliver the domestic product on the domestic market.

Chairman of the Union of Iron and Steel Sellers noted that the growth of prices for iron and steel, despite the activity of large steel mills in the country, has sharply increased the price of finished products such as bundling, automobiles and profiles.

In response to the question of whether the steel and iron and steel market is in the process of production and construction, he said: the domestic production of iron and steel during the year is 25 million tons, which is about 12 million tons in the domestic market It is consumed and the surplus is exported to target markets.

Iron and steel prices rose by about 75 percent this year, saying iron and steel prices have risen by more than 100 percent over the same period last year, and they are a function of global prices.



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