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Iran steel market Trend in Week 25th , 2018

Billet

Billet price was almost stable during last week in Iran. Last Sunday, sellers mostly were in waiting mood to see what will happen at IME for DRI deal of Sirjan Steel co. It finally was sold at base price of USD 309 /mt ex-work excluding VAT. Sabzevar co DRI was sold at IME on Wednesday at USD 281 /mt ex-work excluding VAT. According to downward trend of long products and its market sadness, billet price in retail market declined from USD 673 /mt ex-work including VAT on Sunday to USD 669 /mt ex-work including VAT by end of the week. But as debar price became upward by Wednesday, some talks about upward trend in billet market was heard. Generally, market trend is not clear due to many issues such as lower export level in near future and rising domestic supply.

 

long products

Debar price declined during last week as expected. Average price of sizes 8-32 mm dropped from USD 769 /mt to USD 762 /mt ex-work including VAT by Tuesday. Lower supply level made market sentiment reversed and by Wednesday price rose again as some mills were offering by USD 12 /mt higher by Thursday.  Actually lower billet supply made debar price upward. I-beam price experienced the same trend by first half of the week was downward from USD 769 /mt to USD 768/mt ex-work including VAT and rose again to USD 776 /mt ex-work including VAT by end of the week.

 

Flat products

Imported HRC 2 mm thickness started the week at USD 781 /mt on truck in Anzali including VAT and custom duties, which stayed unchanged till end of the week. But it is expected to rise as:

1- foreign sellers have stopped offering to Iran

2- exchange rate has increased

Import level during second month of current Iranian year ( 21 Apr-21 May) was 27,613 tones which dropped to  10,801 tones during last month ( 22 May-21 June). Meanwhile HRC average import level had been 30,000 tones per month before.

HRC 2.5-15 mm thickness was sold be average at USD 719/mt ex-work including VAT by last Sunday and had a stable market till end of the week as was heard at USD 724 /mt by Wednesday. For thickness 2.5 mm, Mobarakeh Steel co supply level has declined currently and its market share has been satisfied by other mills.

HRP market started the week upward but market couldn’t absorb the rise, therefore prices were downward as dropped from USD 748 /mt to USD 740 /mt ex-work including VAT by Wednesday.

CRC market was faced with limited supply level and price upward trend made market confused. CRC market in Iran has been mostly import oriented. As import market has stopped and foreign sellers are not offering to Iran, market is deeply confused especially for thicknesses lower than 0.70 mm.

HDG price was upward from USD 1026 /mt to USD 1032 /mt ex-work including VAT. As CRC market is upward, HDG market is also expected to be on the same trend in near future.

 

Official Ex-rate (CBI):

Rials 42,520/1USD

 June  25, 2018

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Iran Steel News Bulletin

Jun 25, 2018 15:29
Number of visit : 748

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