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