83540
No Steel Price Rise  at IME Until June 21
No Steel Price Rise  at IME Until June 21
Wednesday, March 14, 2018

No Steel Price Rise at IME Until June 21

Wednesday, March 14, 2018

No Steel Price Rise at IME Until June 21

Business & Markets Desk

At the behest of private producers and downstream users, the Ministry of Industries, Mining and Trade has banned price increases for all steel products at Iran Mercantile Exchange up until June 21.
The ministry has also mandated upstream producers to increase their IME supply and refrain from offering products outside the mercantile exchange, Tehran Chamber of Commerce, Industries, Mines and Agriculture reported.
Producers and users alike have been encouraged to share their ideas and criticisms on IME steel pricing and supply method with the ministry in a week’s time.
The pricing move was the result of months of lobbying by downstream users’ associations such as Syndicate of Steel Pipe and Profile Manufacturers. Their efforts reached their climax late last month as the head of TCCIM, Masoud Khansari, penned a letter to President Hassan Rouhani decrying “unreasonable” hikes in steel prices over producers’ claim of a devaluing rial.

Premium

To continue reading this article log in to your account, or join us now and get a free trial which includes access to this specific story.

You will not be charged for your trial and there is no obligation to purchase.

Create an account or sign in

Short URL : https://goo.gl/x4nSHJ
03/14/2018
  1. https://goo.gl/VJojix
  • https://goo.gl/kDY9BH
  • https://goo.gl/uB5Lnu
  • https://goo.gl/G7hZnQ
  • https://goo.gl/ycBtBq

You can also read ...

The rial has lost more than 30% of its value during the three months to April against the dollar.
Majlis Research Center, the parliamentary think tank, has...
Facebook, Google Hit by $8.8b in Lawsuits
On the first day of GDPR enforcement, Facebook and Google were...
Iranian Startup Boosting Value Added Services
Iranian startup SMS.ir has unveiled a new customer relations...
Tipax and Q-Post agreed to share their resources for the establishment of a courier network between Iran and Qatar to help boost bilateral trade.
A private Iranian courier service firm, Tipax, signed a...
There are 359,700 active heavy-duty vehicles in Iran’s cargo truck fleet, of which 125,000 (34%) are over 15 years old and almost 1,500 trucks are five decades old.
A number of truckers across the country have taken industrial...
Tehran Housing Market Rebounds
Following a very weak performance during the first month of...
Ayandeh Named Iran’s Best Bank by Euromoney
The private Ayandeh Bank has continued its string of success...
Iran's Foreign Trade Tops $14b (March-May 2018)
Iran’s non-oil foreign trade during the two months of the...

Add new comment

Trending

Googleplus