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Iran steel market Trend in Week 32nd , 2019

Iran steel market Trend in Week 32nd   , 2019

Billet

Steel billet price was up last week in Iran, from USD 338/mt on Saturday to an average of USD 329/mt ex-work including 9% VAT.

The increase in billet price was due to several reasons including export continue and also DRI supply shortage due to some stoppages and energy supply problems in summer time.

Another reason has been current ambiguities at IME (Iran Mercantile Exchange) which finally last Wednesday, Khouzestan Steel co sold 30,000 tones of its billet at USD 309 /mt, while its previous average sale price was USD 317 /mt, making the market slightly calm. By Wednesday afternoon billet supply in retail market improved and made upward trend stable.

Long Products

Debar price fell from an average of USD 370/mt on Saturday to Monday's USD 369 /mt  but offset the drop by the weekend and rose to USD 372 /mt ex-work including 9% VAT. There were two main reasons for the ups and downs of debar:

First one was the confusion about billet price, which was revealed by Tuesday.

Secondly, limited margin of re-rollers due to the small gap between debar and billet price, which made debar price upward.

The price curve for I-beam sizes 14 to 18 was similar to debar changing from USD 374/mt on Saturday to USD 370/mt on Sunday and finally to USD 375 /mt  ex-work including 9% VAT on Wednesday.

Flat Products

HRC 2 mm thickness was USD 507/mt ex-work Isfahan on Saturday and reached USD 511/mt ex-work including 9% VAT by the weekend. Ahvaz product remained stable at around USD 489 /mt  during the week. Thickness of 3 to 15 mm of Mobarkeh Steel co HRC were down from Saturday onward, from USD 499/mt to USD 497/mt on Wednesday. Lower demand was the most important cause of this change.

HRP thickness 10-40 mm from Oxin co experienced some fluctuations during the week, firstly down from USD 450/mt on Saturday, to USD 449/mt on Tuesday, but by Wednesday as the mill led the market, reached an average of USD 458/mt. Kavian Co HRP was relatively stable but followed the same trend as Oxin co product, with prices expected to recover this week.

CRC thickness 0.40 to 2 mm averaged USD 638 /mt ex-work including 9% VAT during last week and remained unchanged until the weekend despite its limited supply. Demand is also very weak.

HDG price, which averaged USD 733/mt for thickness of 0.40 to 20 mm, reached USD 721/mt on Wednesday. Zinc price decline and market downturns are two major causes of this price change.

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CBI weekly average ex-rate for Steel Products (SANA): Rials 114452 / 1USD

11 Aug, 2019

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Iran Steel News Bulletin

Aug 11, 2019 11:44
Number of visit : 71

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