Iran steel market Trend in Week 27th , 2020

Iran steel market Trend in Week 27th , 2020


Billet price 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.

Long Products

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.

Flat Products

Last 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.

Oxin co 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.

Price of 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.

HDG 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 in ex-rate.

CBI weekly average ex-rate for Steel Products (SANA): Rials 167.560 / 1USD

06 July 2020  

Jul 6, 2020 17:08
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