About 2 to 4 percent decrease in the price of Iranian and CIS export ingots and correction to the floor rate of about $ 335 / ton FOB and a 10 dollar decrease in Iranian export ingots in the floor …____________________➖ Probably next week, according to the current market adjustment mechanism, and due to the stability in the approximate average weekly rate of the Nimai dollar remittance on the border of 14,000 Tomans, we will have a decrease in the base rate of ingot supply … 330 (EXW) × 14,000 × 83 ٪ 1000 = 38,346
On Wednesday, due to the increase in large-scale protests on the supply side of the market regulator’s actions, the market regulator, with a bit of negligence and competitiveness, confirmed the final rate of 15 to 16 percent of the ingot, while this range has been seen in the maximum 12 percent before. The same issue caused the base rate of supply of long steel sections based on 11% higher than the average trading rate of ingots to be about 260 tomans higher than the base rate of this week. However, the demand for global steel markets, as can be seen, is not affected by the problems of the spread of the covid-19 virus and, of course, the arrival of the holy month of Ramadan, and we are again witnessing a reversal of the ingot rate in these markets.
