Iran National Competition Council has announced new instruction for pricing HRC thickness lower than 5 mm, to control domestic market. The new instruction is as follow:
Three steel mills that are related to this material including Mobarakeh Steel complex, Ahwaz Rolling and Pipe Co , Ferro Gilan Complex.
These three steel mills are obliged to follow the new instruction in domestic market for supplying their HRC product in Iran Mercantile Exchange (IME).
These three mills should offer 25% of their supply level of the product at IME main hall.
Supplying the material to military and strategic industries to be used in the same industry would be exceptional from these instructions.
The instruction formula for setting price of HRC under 5 mm at IME would be as following:
Base price of HRC under 5 mm thickness = Its global price x Sana Official ex—rate
(assigned by Central Bank of Iran)
There won’t be any restriction at IME for any possible upward trend in this base price. If there would be a huge gap between final price of HRC at IME and global prices, Iran National Competition Council is obliged to check the market trend regularly for announcing any new decision if needed.
Source Steel Mint powered by Keyvan Jafari Tehrani
