The Iran Steel Producers Association (ISPA), in a letter addressed to the Deputy Minister of Industry, Mine, and Trade (IMT) for Commercial Affairs, demanded the suspension of the recent Iran Commodity Exchange (ICE) directive regarding the base price of the steel chain and its amendment based on the agreement reached between the specialized organizations in this sector.
Bahram Sobhani, Head of the Steel Association (ISPA), referred to the historic agreement among the steel chain organizations on the pricing coefficients for their products—to be used as the maximum base price for supply on the Iran Commodity Exchange (ICE). In the letter, he asked the Deputy Minister of IMT to intervene and operationalize his promise to implement the organizations’ agreement.
The Iran Commodity Exchange (ICE), in a directive published on September 26, 2025 (Mehr 5, 1404), announced its intended formula for pricing steel chain products. In this formula, the maximum base price for supply is determined as a combination of the export price ceiling and the pricing coefficients from last year’s Azar (November/December).
This comes despite the fact that the Iron and Steel Council (comprising the Iran Iron Ore Association, the Iran Steel Producers Association (ISPA), and the Iran Rolling Mills Association) reached an agreement for the first time on the pricing coefficients for steel chain products this Mordad (July/August) and had communicated it to the Ministry of IMT and the Iran Commodity Exchange (ICE). The Ministry of IMT had also promised to operationalize this agreement, but the coefficients contained in the recent ICE directive are different from the organizations’ agreement!
This directive is scheduled to take effect tomorrow, October 4, 2025 (Mehr 13).
