According to Chilan, with the confirmation and registration of the stock exchange on March 6, 5 tonnes of steel bullion were traded this week, which if we consider the average price of about 2 USD (excluding VAT), This week, the average price of rebar in the commodity exchange, which was around 5 USD (excluding VAT), has reached about 0.9% between bullion and rebar. The difference, which was approved by the Market Adjustment Task Force and despite the protesters’ backlash, was 2 percent below the base price, and is still ongoing. Prior to the ordinance, the price difference between the two steel products was set at 2% by the Steel Association’s proposal and follow-up, which was reduced this year.
The average price of 1 peanut between bullion and rebar and about 1 peanut at the maximum level was recorded this week, which is only 2% in the week prior to the approved transactions, about 2% in the week before that. The fourth week of February was just over 2%. In other words, the difference between the bullion and rebar on the commodity exchange has only doubled in just two weeks.
Along with other factors, it seems that although the Ministry of Finance’s push to restrict exports and maximize bullion supply on the stock market has led to a 5% drop in its price, the decline has not occurred in the rebar with the same slope and proportion. So the price difference between the two sets new records. In other words, the stickiness of the price of rebar to the rate of 2 USD (excluding VAT) exists due to its export demand at the same price levels and therefore excessive reduction in the price of bullion on the stock exchange will not transfer the same amount of benefits to the end consumer. Was. It is therefore anticipated that in the next week’s rebar offerings that the base price will be much lower than this week, based on the market adjustment formula of the bullion trading, the final price remaining at current levels or slightly lower. Stay.
