Billet: Thanks to an oversupply and a drop in the exchange rate, billet price decreased slightly, but there is not much room for this downward trend to continue.
Long Products
Rebar: Lower exchange rate and market recession caused a slight reduction in the price of rebar.
I-beam: Market makers initially pushed price of steel beams up, but the drop in the exchange rate eventually had its effect, leading to a price reduction by end of the week.
Flat Products
HRC: Price of 2mm HRC from Mobarakeh Steel was 5,030,000 Rials on Saturday, and after some fluctuations, it returned to the same price by Wednesday. Market recession made the overall trend a downward one.
HRP: The market lacks the capacity for a price increase for Oxin Co HRP, which is why it took a downtrend. A price drop may potentially lead to better demand.
CRC: Exports of certain items led to an increase in demand and a surge in the price of CRC.
HDG: HDG market reacted in tandem with the prices of HRC and the exchange rate.
Weekly Analysis:
In the world market: It appears that the reconstruction of Syria is quietly and subtly gaining momentum. Saudi Arabian capital and Turkish management are driving the inflow of steel into the country. Traders from Iraq, Jordan, and Turkey are becoming very busy, and Indian entities have also entered the market. This activity has led to an increase in regional steel demand. This trend is expected to continue until the start of winter, provided no other unforeseen events occur. Globally, there is no significant price change observed, with overall steel prices experiencing only limited fluctuations.
A meeting between Trump and Xi Jinping could potentially mark the beginning of a new era, though one should not expect radical changes. This event would primarily have two major effects on global trade:
1. Market Stability: It would restore calm to the markets and help accelerate economic activities.
2. Capital Reallocation: As markets stabilize, capital currently held in safe-haven assets like gold, silver, or other commodities will flow back into the main markets. However, this does not imply an increase in steel demand. Its main contribution would be to help prevent a global recession.
In the domestic market: Last week, two main events brought the domestic market to a standstill:
1. A decrease in the exchange rate.
2. The Kish Symposium, which drew away most of the key steel industry players, effectively halting market activity.
Crucially, because prices are already at their floor, this market inactivity did not result in a price decline.
The market is currently confused by a circular issued by the Ministry of Industry, Mine, and Trade (MIMT) and a decision by the Stock Exchange to calculate prices based on the export price multiplied by the Central Bank's "cash rate"
• Economic Question: Economically, the export rate should be a function of global supply and demand, influenced by numerous factors.
• Controversial Rate: More questionable, however, is the Central Bank's "cash rate." The source of this specific rate is unknown, and it has not been defined or mentioned in any of Iran's import/export calculation formulas.
In any case, this circular has caused instability and uncertainty in both the Stock Exchange and the wider market.
CBI average ex-rate for Steel Products (SANA): Rials 699,017 / 1USD
03 Nov 2025
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
IRSTEEL.COM