Lowering the exchange rate triggered a relaxation in the free market of polymers, although it was hoped for more goods to enter the free market by improving the conditions in road transport systems.
The trade volume of polymers in the stock exchange fell by nearly 15% last week, although the main reason for the decline in volume of trading has to be sought in a supply fall of about 14% in stock exchanges. This led to a trade turnover of around 63,000 tons of polymers, which is the lowest in the last three weeks. Meanwhile, the market still expects the supply volumes to return to over 70,000 tons a week, although the past week it was over 64,000 tonnes. The fall in prices in the free market, of course, has shrunk to the charm of purchases, and this has been more or less apparent in the stock market. As far as we saw, last week’s trend volume dropped by more than 24% compared to the previous week.
Studies show that the willingness to buy in the free market has declined, and the reason for this should be the fall in the US$ exchange pricer and the fear of further declines in the price of polymers, although the peak of this situation should be examined in the leading week.
Market activists believe that this week is the most important period within the last few weeks for the polymer market, as most market participants are in fear and hoping to further prices decline. This subconscious signal has reduced the desire to buy more and also caused to buy raw materials in the free market as far as needed. The converting units prefer to use their inventories and avoid new purchases as much as possible.This signal will of course be an important piece of data for commodity trading, as the main consumers will try to maximize the volume of their purchases from IME, in a situation where mediation has become less appealing in recent days.
Market prospects at least in the psychological phase and its emotional purchases should be tracked down in the FOREX market. As long as there is concern about falling prices in the foreign exchange market and till the market is not reaching to a balanced rate, this situation will continue. Given the high inventories in the domestic market and the reluctance to buy new stocks as well as the expectation of delivering shipments purchased in the past weeks from IME, the market has entered to an important phase of price ambiguity and market prospects is almost impossible. This week is also the fourth week since the announcement of new guidelines for the stock exchange. If new directives are implemented, base prices on the stock exchange will be determined as an average prices of the last four weeks.
In the view of the PIMI analysts, by implementation of the new directives, once again there will be a price.
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