experienced some fluctuations during week 43 in Iran. Average price of billet
size 150 mm in domestic market was USD 462 /mt ex-work including 9% VAT on
Saturday last week. Size 125 mm was also USD 455 /mt. Limited supply level made
prices up as size 150m mm reached USD 479-487 /mt ex-work including 9% VAT.
Demand side resistance made prices downward as were back to beginning of the
week level by Wednesday.
Limited demand level
in long products market has made billet producers also under pressure as
produce for daily use. This is a sign of market fragility. The question is how
long market can afford these fluctuations.
Debar diameter 14-25
mm from Esfahan Steel Co started last week at USD 586 /mt ex-work including
VAT. Everybody waiting for IME transaction which finished at USD 528 /mt
ex-work excluding VAT (USD 576/mt including VAT) for 5500 tones. By Sunday retail
market price was USD 588/mt ex-work including VAT. By Monday prices started
dropping as reached USD 560 /mt by Wednesday. Roohina Steel co debar dia 14-25 mm was within
USD 536 -541 /mt during last week with some discounts possible.
Esfahan Steel co
I-beam size 14-18 experienced some fluctuation as dropped by USD1.2 /mt to USD 672
/mt ex-work including VAT by end of the week.
HRC 2 mm thickness in import market started the week at USD 718
/mt, By Monday it reached USD 737 /mt and finally finished the week down at USD
732 /mt on truck in Anzali including 9% VAT and custom duties.
Higher price in IME ( Iran Mercantile Exchange) made price upward
in retail market too. Last Monday base price at IME improved from USD 609/mt (
on 16th Oct) to USD 636 /mt ex-work excluding VAT. Finished price after VAT has reached USD 694/mt ex-work including
VAT. Another reason behind improvement was that import offers on November have
not dropped by USD20 /mt as expected. They were stable or improved.
Thickness 2.5-15 mm started the week at USD 624 /mt ex-work including
VAT on Saturday. It was up by USD 5 /mt due to the
deal of Mobarakeh Steel co products at IME by Monday. Then prices were down
till end of the week as reached USD 619 /mt. Actually upward trend of thickness
under 6 mm was justified by downward trend of thicknesses over 6 mm.
Kavian co HRP thickness 15 mm was almost stable but Oxin co product
dropped from USD 579.5 /mt to USD 575/mt ex-work including VAT. Market
inventory is high and demand is limited. Oixn co product is in a bad situation.
was in a quiet mood. Improvements in some imported prices made domestic market
also rise from USD 780 /mt to USD 795/mt ex-work including VAT.
market was upward due to limited supply of some sizes. Average price rose by USD
10 /mt to USD 907 /mt ex-work including VAT.
In free market: Rials 40,690 /1USD
30 Oct 2017
Steel News Bulletin