Peighambari scored 9.59 points, behind Chinese and Russian artists, scoring 9.83 and 9.63 points respectively.
Another Iranian wushu artist Zahra Karimi has qualified for semifinal stage. She has secured at least a bronze medal in the event.
Farzaneh Dehghan and Hossein Ojaghi, other Iranian representatives, are highly likely to get medals in the tournament.
Olympics chief Jacques Rogge and martial arts star Jet Lee attended the exhibition matches.
The four-day Beijing 2008 Wushu Tournament, which attracts 128 athletes from 43 countries and regions, kicked off at the Beijing Olympic Sports Center on Thursday where some Olympic handball matches had been held.
It was the first time that a non-Olympic tournament was launched in a city which is hosting Olympic Games.
MH/MRK
END
MNA