Billet: The mismatch between demand and supply led to a modest improvement in billet prices.
Long Products
Rebar: Supply constraints pushed rebar prices higher.
I-beam: Weak demand, coupled with a relative improvement in supply, drove steel beam prices lower.
Flat Products
HRC: HRC market remained balanced in terms of supply and demand but fluctuated under the influence of exchange rate movements.
HRP: Muted demand resulted in a slight decline in Oxin plate prices.
CRC: Demand for CRC has fallen to its lowest level, while prices have little room for further declines.
HDG: With the hot-rolled coil market remaining stable, the galvanized steel market also experienced subdued trading activity.
Weekly Analysis:
In the world market: The global steel market remains broadly stable. Demand has fallen to very low levels, while prices have also reached their apparent floor. Iron ore prices have shown little change compared with the previous week. The scrap market continues to face supply shortages, largely due to seasonal holidays, although this has had little impact on billet prices because the billet market itself remains subdued. Trading volumes for both hot-rolled steel coil and rebar have been relatively low, limiting any meaningful price movements. As the holiday season in Europe and the United States comes to an end, the market is expected to look for signs of a recovery in demand.
hese expectations, however, assume that economic activity proceeds under normal conditions. In reality, geopolitical uncertainties in the Persian Gulf, together with rising tensions around the Bab el-Mandeb Strait, continue to cloud the outlook. This uncertainty has prolonged the market slowdown, increased production costs, and weakened demand. While global attention remains focused on oil prices because of their broad impact on production costs, far less attention has been paid to the decline in demand across the Persian Gulf countries.
If these conditions persist, they could contribute to a prolonged period of global economic weakness and potentially a broader economic crisis. Although the full implications are difficult to predict, the effects of these structural and geopolitical challenges are likely to continue influencing global markets for at least the next five years.
In the domestic market: The domestic steel market is expected to remain largely stagnant through late August. The Arbaeen holidays have significantly slowed market activity, as the Arbaeen pilgrimage has drawn many government officials and industry participants away from their regular duties. Toward the end of the month, the commemorations of the Prophet Muhammad's passing and Imam Reza also tend to suppress demand further.
Meanwhile, supply is unlikely to increase significantly due to ongoing power shortages and production infrastructure constraints. However, the two most critical factors remain liquidity conditions and the exchange rate. If the exchange rate rises—which currently appears more likely than a decline—export is expected to increase, particularly for steel billet. As a result, changes in billet demand and prices are likely to serve as the leading indicator for price movements in long steel products.
Flat steel products market is expected to remain relatively stable until late September, when downstream manufacturing plants resume normal operations, provided that the exchange rate remains broadly stable.
CBI average ex-rate: Rials 1,536,160/1USD
03 Aug, 2026
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
Irsteel.com