The steel industry has made huge profits for the producers of this field in the last few months due to the significant increase in the price of foreign exchange, and now it is trying to get out of the mandatory pricing and now intends to complete these successes by fully meeting the needs of automakers. And at the same time, give credit purchases to carmakers who are still struggling with a lack of liquidity.
Khodrocar - Simultaneously with the increase in the price of currency on the one hand and also the ban on the clearance of depot parts in customs, the automotive industry faced more challenges than ever before, while determining the price of domestic raw materials based on FOB Persian Gulf also put additional pressure on it. Had imported because with currency fluctuations, the price of these materials also experienced significant growth.
Accordingly, as the challenges of supplying raw materials increased, the automakers held a joint meeting with the main supplier of steel sheets to the automotive industry, during which they reached common results.
Agreement on providing 7.2 billion Tomans purchase credit by Mobarakeh to these two automakers, 6-month credit period with 1.5% monthly cost according to the routine of commodity exchange and commitment to supply the steel sheet required by these two automakers in the second half of the year. The industry will be able to implement has been the result of a joint meeting of steelmakers with automakers.
According to the plans, the production program of Iran Khodro and Saipa in the second half of the year will be 360 and 330 thousand units, respectively, which have recently been pursued in agreement with the Minister of Automotive Industry to provide currency, Rials and raw materials.
"Simultaneously with the increase in production, the possibility of supplying steel required by automakers in steel companies has been provided, so that now Mobarakeh Steel and its subsidiaries have also faced an increase in production, which makes it possible to supply steel required by the automotive industry.” Says Reza Shahrestani, member of the board of steel producers association.
"If the Ministry of Industry abandons mandatory pricing and allows supply and demand to determine prices in the market, it will certainly be a lower price than the current market floor and more profit for steel companies.” He said.
"According to this agreement, only about 10% of the total price of the goods will be received from the buyer, and the remaining amount will be received by opening the LC during the forecasted time, which is currently a number of banks such as Bank Saderat They are, but at the same time, producers such as Mobarakeh Steel were reluctant to do so, but with this agreement and the defined formula, Bank Saderat applies a 20% discount and pays the amount.” He said.
"This amount of discount is drawn on the price of the product and becomes LC. At the same time, the BACK system is used in BACK, so that Mobarakeh Steel can transfer the LC check to another person at a cost of 2 to 3%.” he mentioned.
"By doing so, despite existing inflation, the automaker's cost of supplying raw materials will be drastically reduced, while previously automakers faced serious challenges due to a lack of liquidity in supplying raw materials, and a 1.5 percent forecast for credit purchases. It will be a very fair number for them, which will eventually lead to a boom in production in the automotive industry.” He said.
These decisions come as the two automakers' agreement with the government to set rates based on the inflation announced by the central bank and the pricing of products through the board will undoubtedly take the automakers out of harm, as planned. The pricing has been done in such a way as to exclude carmakers from losses this year, which is a final decision. It remains to be seen to what extent the agreement reached with the automakers and the easier supply of raw materials will be effective in production as well as reducing the costs of automakers.
Accordingly, as the challenges of supplying raw materials increased, the automakers held a joint meeting with the main supplier of steel sheets to the automotive industry, during which they reached common results.
Agreement on providing 7.2 billion Tomans purchase credit by Mobarakeh to these two automakers, 6-month credit period with 1.5% monthly cost according to the routine of commodity exchange and commitment to supply the steel sheet required by these two automakers in the second half of the year. The industry will be able to implement has been the result of a joint meeting of steelmakers with automakers.
According to the plans, the production program of Iran Khodro and Saipa in the second half of the year will be 360 and 330 thousand units, respectively, which have recently been pursued in agreement with the Minister of Automotive Industry to provide currency, Rials and raw materials.
"Simultaneously with the increase in production, the possibility of supplying steel required by automakers in steel companies has been provided, so that now Mobarakeh Steel and its subsidiaries have also faced an increase in production, which makes it possible to supply steel required by the automotive industry.” Says Reza Shahrestani, member of the board of steel producers association.
"If the Ministry of Industry abandons mandatory pricing and allows supply and demand to determine prices in the market, it will certainly be a lower price than the current market floor and more profit for steel companies.” He said.
"According to this agreement, only about 10% of the total price of the goods will be received from the buyer, and the remaining amount will be received by opening the LC during the forecasted time, which is currently a number of banks such as Bank Saderat They are, but at the same time, producers such as Mobarakeh Steel were reluctant to do so, but with this agreement and the defined formula, Bank Saderat applies a 20% discount and pays the amount.” He said.
"This amount of discount is drawn on the price of the product and becomes LC. At the same time, the BACK system is used in BACK, so that Mobarakeh Steel can transfer the LC check to another person at a cost of 2 to 3%.” he mentioned.
"By doing so, despite existing inflation, the automaker's cost of supplying raw materials will be drastically reduced, while previously automakers faced serious challenges due to a lack of liquidity in supplying raw materials, and a 1.5 percent forecast for credit purchases. It will be a very fair number for them, which will eventually lead to a boom in production in the automotive industry.” He said.
These decisions come as the two automakers' agreement with the government to set rates based on the inflation announced by the central bank and the pricing of products through the board will undoubtedly take the automakers out of harm, as planned. The pricing has been done in such a way as to exclude carmakers from losses this year, which is a final decision. It remains to be seen to what extent the agreement reached with the automakers and the easier supply of raw materials will be effective in production as well as reducing the costs of automakers.
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