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Mobarakeh Steel's chief executive has called on other parts of the steel value chain to help reduce the impact of inflation on final consumers. The appeal came at a meeting with 15 steel company chief executives and members of the steel association's board.
The report points to Mobarakeh's voluntary reductions in the base price of hot-rolled coil offered on the exchange, while arguing that a single producer cannot carry the full burden of market stabilisation.
Rising energy costs, higher direct reduced iron prices and weak controls over the eventual use of exchange-purchased sheet are identified as obstacles. The report calls for cooperation across the production and distribution chain.