Steelmakers: Government Intervention Hurts Prices

There is growing pessimism among capital market players and shareholders of steel companies over a government decision to intervene in the pricing of steel products in the Iran Mercantile Exchange.  
The criticism took new dimensions soon after a meeting attended by the Minister of Industries Alireza Razm-Hosseini, First Vice President Eshaq Jahangiri and steel industry leaders Friday to discuss pricing mechanisms of steel products.   
Capital market officials are concerned about the government decision to “set a ceiling and a floor” for steel prices at the IME, warning that this may impair the price discovery mechanism in the capital market.