Section market was completely depressed during week 44 in Iran. Prices were downward and no real buyer was in the market. Debar price was down by USD 10 per tonne, Angle and channel price dropped by USD 10 per tonne to USD 14 per tonne.

As exchange rate was upward, it made sections price drops limited. Prices have reached the bottom too. Producers cannot afford more declines as prices are close to production costs. Despite all these factors, demand level was scarce and no transaction was done.

Traders are worried about their liquidity level and financial problems. At this condition, steel market may face many bankruptcies that will affect mills budget. This negative sentiment has made transactions levels to be more limited.

Nobody expect any change in market sentiment during this week as religious holidays always make market more silent.

(Sourced from www.irsteel.com)