Iran's Steel Market: Hopeful Recovery as Transaction Index Tops 80%

Continuing a three-week streak, the transaction volume to billet supply volume index stayed above 80%, signaling a promising outlook for the steel market's rebound from recession.

Iranian Commodity Exchange recently facilitated the supply of an impressive 134 thousand tons of 5sp billet. This event gained even more significance as it managed to meet the surging double demand, resulting in a staggering 89% of these supplies being successfully traded through a series of matching transactions.  South Kaveh Steel Co. (sks) led with the highest billet supply of 30,000 tons today. Khuzestan Steel recorded the day's peak billet price, averaging 21,014 tomans per kilo for mid-September delivery.