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Iran steel market Trend in Week 04th , 2020

Iran steel market Trend in Week 04th , 2020

Billet

Billet price was stable during last week in Iran. The first two days of the week market was stagnant due to end of the month time, but found its way and billet price changed from USD 383/mt on Saturday to USD 386/mt ex-work including 9% VAT by end of the week. China and some other South Asian markets are close due to Lunar New Year Holidays and global billet price has been downward, therefore, if DRI price trend doesn’t change, billet price won’t change either.

Long Products

Average price of rebar 8 to 32 mm diameter on last Saturday was USD 420 /mt ex-work including 9% VAT. With the announcement of a rise in base prices at IME, some mills pushed the average price to USD 423 /mt despite lack of activity, but weak demand made price down again to USD 422 /mt by end of the week.

I-beam, which was priced at USD 497/mt by beginning of last week, reached USD 513/mt by Wednesday. Rain in the south and snow in the northern part of the country have restricted production and trading level, keeping the market silent unless something new happens at IME ( Iran Mercantile Exchange).

Flat Products

Two mm thickness HRC started last week at USD 577/mt ex-work Esfahan and USD 546 /mt ex-work Ahwaz, but by the end of the week prices rose to USD 601/mt in Esfahan and USD 571/mt in Ahwaz. Thicknesses of 3 to 5 mm were not being offered, but the average price of 6 to 15 mm thickness, HRC which was USD 626/mt on last Saturday, reached USD 640 /mt ex-work including VAT by the weekend.

Oxin co HRP supply constraints still exist. Average price of sizes 8 to 40 mm was USD 622/mt on last Saturday but ended the week at USD 636/mt ex-work including 9% VAT.  Kavian co HRP also changed from USD 583 /mt to USD 591/mt by last Tuesday, and sales stopped by Wednesday.

CRC market was surprised by last Tuesday when price at IME reached USD 762/mt, while the average price in retail market was USD 701/mt. This change made market quiet, waiting for next moves this week.

HDG price improved slightly by last Monday but calmed down again on Tuesday, and by Wednesday the market was halted due to the volatility of CRC and HRC inventory level.

CBI weekly average ex-rate for Steel Products (SANA): Rials 120.776 / 1USD

27 Jan 2020

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Iran Steel News Bulletin

www.Ifnaa.ir

www.irsteel.com

Jan 27, 2020 15:47
Number of visit : 89

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