Demand and supply important for determining steel price: official

Business Materials 26 November 2018 17:21 (UTC +04:00)

Tehran, Iran, Nov. 26


Rise in the currency rate and lack of pricing through the demand and supply system is harmful for producers, Director of South Steel Investment and Development Company Ahmad Donya Nour told Trend in an interview.

“The steel price follows special parameters, including international regulations. There was no possibility of positive effect with the 5 percent ceiling in the stock exchange. Therefore, our report to the Ministry of Industry and Organization for the Protection of Consumers and Producers (OPCP) was convincing and they approved to remove the 5 percent ceiling,” he said.

“It should be noted that the price of steel has increased immensely, since some raw materials and spare parts are imported and have been affected by the currency rate.”

“Therefore, if we did not let determine the pricing through demand and supply, we would have definitely faced huge losses,” Donya Nour said.