Billet
Price of billet size 150 mm started week 07th with USD783/mt on truck in Anzali including 5% VAT, but after declines in ex-rate, billet prices was downward too. It reached USD765/mt by Tuesday.
Iranian year end is nearing and long products market is depressed, though market participants didn''t expect any improvement in billet market in short time. Besides, other negative factors such as market stagnancies and import limitations won''t let supply level of billet to increase in near term.
Long products
Despite expectations of some market participants, long products market was downward in Iran due to lower ex-rate. Ex-rate in open market dropped from Rials38,000/USD to Rials35,500/USD during last week in Iran and made long products market shocked.
Some products retail prices in the market are lower than their latest transaction prices at IME due to lower ex-rate and also some cheap stocks which have been available in the market currently.
At the moment domestic mills prefer staying out of the market or decreasing supply level. But prices won''t get back to last month''s levels as base prices have increased. Market is full of ambiguities these days. Ex-rate stagnancies and latest purchased prices at IME are affecting sections market.
Flat Products
Price of HRC 2 mm thickness declined from USD1020/mt to USD995/mt on truck in Anzali including 5% VAT during last week in Iran due to ex-rate fluctuations.
Mobarakeh Steel HRC price increased by USD41/mt by beginning of last week but low demand made prices decrease by USD21/mt by end of the week.
At the moment flat products market is depressed and big traders are mostly trying to sell their stocks as just about 3 working weeks have remained till year end and warehouses have enough inventory.
CRC market was upward by beginning of the week but low demand made prices down by Wednesday and market participants do not expect any improvement till Iranian New Year as prices has peaked.
HDG market especially for thickness of higher than 1.5 mm is experiencing supply shortage. Prices at IME were rising and market was full of ambiguities.
(Ex-rate: In Exchange Room: Rials 24,516/USD)
Iran Steel Service Center