was upward during last week in Iran domestic market. On Saturday, its average
price was USD 410/mt, which reached USD 443/mt ex-work including VAT by
Wednesday. On Wednesday, billet transactions on IME were canceled, while its base
price had reached USD 418/mt excluding VAT. Only Esfahan Steel co and Khorasan
Steel co products transactions were confirmed. Khorasan Steel sold its billet at
below USD 406 /mt, but Esfahan Steel co billet was not standard billet. The
cancellation of transactions at IME has re-created the mentality in the market
that in the coming weeks price would be upward.
Average price of rebar, which was USD 442/mt on last Saturday,
reached USD 491 /mt ex-work including VAT by Wednesday. Many experts expect rebar
price to be upward in coming days due to billet price trend. All market
participants believe that steel price will no longer fall, but this is an
economic principle that higher prices would make market smaller.
Average price of I-beam sizes 14 to
18 was USD 544/mt ex-work Esfahan by beginning of last week, but by Wednesday
it reached USD 579/mt ex-work including VAT. Over the past week, price of I-beam
sizes 16 and 18 were upward and made its average price higher.
Saturday HRC 2 mm thickness in Esfahan was USD 647/mt and in Ahwaz it was USD 627/mt ex-work
incluing VAT, but by Tuesday the price in Esfahan reached USD 680 /mt and in
Ahwaz it reached USD 668/mt. Average price
of thickness 3 to 15 mm HRC which was USD 608/mt on Saturday in Tehran market,
reached USD 640/mt on Wednesday.
HRP thickness 10-40 mm was priced at USD 693/mt on Saturday, which increased to
USD 727/mt by Wednesday. Kavian co HRP thickness 12 to 25 mm average price on last
Saturday was USD 592/mt, which increased to USD 666/mt till last Wednesday.
CRC thickness 0.40 -2.5 mm was not offered on last Saturday, but the average
price on Sunday was USD 1047/mt , but by Wednesday it reached USD 1103/mt
ex-work including 9% VAT.
thickness 0.50 - 1.5 mm, which was priced USD 985/mt on Saturday, reached USD 1048/mt
on Wednesday. Upward trend of HDG was due to higher HRC price and the increase
weekly average ex-rate for Steel Products (SANA): Rials 167.560 / 1USD
06 July 2020