Average price of
billet was USD 339 /mt ex-work including 9% VAT last Saturday but fell to USD 335/mt
by end of the week. The main reason for this decline was religious holidays and
market was almost closed. On the other hand, supply of Chador Malo and
Khuzestan steel co billet gave the market this feeling that supply trend would
not be interrupted. As a result, prices went down, but despite a decline in price,
number of billet sellers declined too, this could lead to a higher billet price
in coming weeks. It should be reminded that last week was almost inactive due
to the mid-week holiday.
Debar price experienced a modest increase during
last week from Saturday's average price of USD 376/mt to USD 376/mt by
Wednesday. In fact, nothing really happened. The reason for lower price was
market closure on Monday due to the religious Holiday. Share of debar in domestic
market has fallen relative to exports. Actually debar price is depended on
export volume and foreign markets potentials. Foreigners are not yet seriously
active due to summer holidays, therefore a sharp decline in debar price seems
unlikely. I-beam price didn’t change significantly and the average price of
sizes 14 to 18 in Isfahan market declined from USD 378/mt to USD 377/mt ex-work including 9% VAT.
2 mm thickness HRC price rose from USD 523/mt ex-work Isfahan
including 9% VAT on Saturday to USD 534 /mt by end of the week. Ahvaz product
which was offered at USD 499/mt on Saturday, had supply problems due to
technical issues, so was not offered with a clear price trend. Mobarakeh Steel
Co HRC thickness 3 and 4 mm was faced with supply constraints but the average
price of 5 to 15 mm thickness HRC on Saturday was USD 495/mt and reached USD
499/mt by the weekend.
Oxin co HRP price was almost stable, rising from USD 466/mt to USD 466.6/mt.
CRC had a weak market that was affected by mill closure and
official holidays, so the average price declined from USD 646/mt on Saturday to
USD 642 /mt by the weekend.
HDG price was downward amid lower ex-rate and seasonal market
weakness but its price is near the bottom level.
weekly average ex-rate for Steel Products (SANA): Rials 113.149 / 1USD
Steel News Bulletin