<strong><br> <span>Billet</span>: The continued downturn in the long steel products market, coupled with a weak foreign exchange market, led to a decline in billet prices.<br> <img src="" alt="بیلت" class="center-block img-responsive"> <br> <span>Long Products</span><br> <span>Rebar</span>: As prices have already reached their floor levels, rebar had little room for further declines; however, the market remained subdued and sluggish.<br> <img src="" alt="میلگرد" class="center-block img-responsive"> <br> <span>I-beam</span>: Increased supply also pushed down beam prices.<br> <img src="" alt="تیر" class="center-block img-responsive"> <br> <br> <span>Flat Products</span><br> <span>HRC</span>: Supply issues in the hot-rolled coil (HRC) market persist, although with less intensity than before. Products from Gilan Steel and other mills have partially filled the gap left by Mobarakeh Steel, especially at a time when demand has fallen to its lowest levels.<br> <img src="" alt="ورق سیاه" class="center-block img-responsive"> <br> <span>HRP</span>: The Oxin co plate market has reached a balance, largely because demand is extremely weak.<br> <img src="" alt="اکسین" class="center-block img-responsive"> <br> <span>CRC</span>: The gradual decline in demand is becoming increasingly evident, which has led to lower CRC prices.<br> <img src="" alt="روغنی" class="center-block img-responsive"> <br> <span>HDG</span>: Weak demand, along with the decline in HRC prices, has also resulted in lower HDG prices.<br> <img src="" alt="گالوانیزه" class="center-block img-responsive"> <br> <span>Weekly Analysis:</span><span><br> In the world market</span>: World market remains in a state of recession. Chinese steelmakers reduced production by approximately 5% this week. In addition, the summer holiday season in Europe and the United States is set to begin next week, which is expected to further weaken demand.<br> Last week, two major investment agreements were signed. The first involves an Indian investment in Oman to develop a steel value chain with a capacity of 1.2 million tons, while the second is a project in the UAE with a capacity of 600,000 tons. As a result, some of Iran’s current export customers are likely to become competitors in the near future.<br> In Europe, steel demand remains weak, while Chinese producers, under pressure from slowing domestic demand, are pursuing plans to increase production. Across global markets, rising production costs driven by higher oil prices and increased freight rates have been cited as the main factors behind the current downturn.<br> This recession is likely to continue and may deepen unless the situation surrounding the Strait of Hormuz is resolved. However, even if the Strait reopens fully, the downturn is unlikely to end quickly, as oil prices are not expected to return to the levels seen before the conflict and the closure of the Strait of Hormuz.<br> <br> <span>In the domestic market</span>: The recession driven by uncertainty and the lack of investment continues to persist. Freight rates are set to increase by 26% starting by Saturday, and considering that this increase affects the entire supply chain, it effectively translates into a 125% rise in total costs across the supply chain. As a result, there is little expectation of a decline in billet prices.<br> At the same time, inflation data for last Iranian month indicate an 80% increase in prices. From an economic perspective, if inflation remains above 50% for six consecutive months, the economy can be considered to be entering a phase of hyperinflation. The higher inflation rises, the deeper the recession is likely to become, leading to increased pressure on the banking system, money printing, higher interest rates, and rising unemployment.<br> The root cause of these challenges lies in foreign trade. Due to declining exports of steel and petrochemical products, most market participants expect the exchange rate to increase, which will inevitably affect the domestic market. In simple terms, there is currently little reason to expect either lower prices or an economic recovery in the near future.<br> <br> CBI average ex-rate: Rials 1,477,113/1USD<br> 08 June, 2026 <br> M.Chitsaz<br> Iran Steel News Bulletin<br> IFNAA.IR<br> </strong><br>