Industry sector pins blame on speculators for car market volatility
Iran’s Industry, Mine and Trade Ministry spokesperson Ezzatollah Zarei said speculators were driving volatility in the country’s car market, adding that supply and import policies remained unchanged.
Zarei said 160,000 tons of steel sheets had been offered to automakers, of which 70,000 tons had been purchased by applicants.
“There is turbulence in the car market caused by artificially amplifying certain issues, behind which lies profiteering,” he said. “We have no problems in the auto sector. Imports and production will continue.”
He added that last year’s import policy remained in place with no bans, and said a number of vehicles currently held at customs would be cleared and delivered by importers within a short period.
Industry Minister Mohammad Atabak also said on Saturday that automakers should refrain from unjustified price increases, noting there were no supply constraints in steel sheets and no obstacles to reducing production. He added that issues related to import order registration had been resolved and imports were continuing.
In recent weeks, some traders in the open market have raised prices of steel-related products, including automobiles, citing alleged shortages following damage to Mobarakeh Steel’s infrastructure during the US-Israeli conflict. The car prices have surged over the past weeks, with sellers attributing the increases to a lack of steel sheets.
According to Mehr news agency, Iran’s steel industry has been moving toward recovery two weeks after a 40-day war, with producers maintaining at least baseline output through crisis management and domestic capabilities.
Mobarakeh Steel Company (MSC), based in the central province of Isfahan is working to restore stable production after parts of its lines were damaged during the hostilities.
Western sanctions on Iran, along with damage from recent military attacks on production infrastructure, have further intensified challenges facing the sector.
According to the Ministry of Industry, Mine and Trade, Mobarakeh Steel Company has also been tasked with supplying steel sheets to downstream and affiliated companies through imports at prices approved by the Organization for Supporting Consumers and Producers. The ministry is also pursuing the approach of increasing steel production capacity in the country.