According to the latest iron market situation, it has become more and more important to pay attention to the results of the specialized steel market regulation committee. At a recent meeting, a formula for determining the supply floor of a steel commodity exchange was presented by the Union of Pipe and Steel Manufacturers. Kaveh the secretary of the Steel Pipe and Steel Manufacturers Syndicate at a meeting of the Specialized Steel Market Regulatory Committee to discuss the supply floor of steel and bullet-proof steel units, attended by commodity exchanges, Imidro, the Ministry of Steel and Steel Manufacturers, the Syndicate Secretary and the Steel Association Secretary. Prior to the meeting, steelmakers had said the steelmakers had downplayed the underlying stock price because of a low base price, and were seeking a new formula to limit base price increases.
He pointed out that, on the other hand, the officials of the Ministry of Steel, as officials in the field of steel, said that they had been questioned by high-ranking officials about why the price of iron and steel had soared and jumped because it had been ordered after control. Prices will not rise, and they have asked the Steel and Steel Exchange officials to comment.
Kaveh continued: An important point that all members of the meeting acknowledged was the cause of rising prices and rising prices was the lack of supply due to the lack of compliance with the commodity market announcement headquarters. At the meeting, the union presented a proposed formula for fair determination of the supply floor, with three key factors embedded in it, the secretary of the steel and profiles manufacturers union said. Kaveh listed the actual suppliers' production volume, stock market demand and finally stock market trading as the three factors that propose the formula, summing these three factors and dividing the number three by the fair supply floor per month.