Markets in Brief 09.03.2018

Although Iran does not export steel to the US, but the Iranians steel makers’ share prices were not totally indifferent toward the recent comments of Donal Trump. Iran exports 94% of its steel production; steel export is expected to reach 8 million tons, worth 3.4 billion USD, by the end of Iranian fiscal year, i.e. 20 March 2018. United Arab Emirate, Italy and Thailand are the top three destinations. If the foreign market should alter, the future of the Iranian steel makers might become less flourishing.

Tehran Stock Exchange (TSE) passed a declining week and on the last trading day, the overall index, TEPIX, closed at 96,860 points; 1.1 percent less than a week ago. Over the week, Minerals, Metals and Refineries groups indices experienced the maximum decline, losing 2%, 1.7% and 1.6% respectively. See the charts above.