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Iran steel market Trend in Week 33rd, 2020

Iran steel market Trend in Week 33rd, 2020

Billet

The average price of billet in Iran market on last Sunday was USD 450/mt, which reached USD 443 /mt ex-work including 9% VAT by Wednesday. On Tuesday, average base price of billet sold at IME was USD 397/mt , which after VAT, would be USD 432/mt. Reasons behind lower billet price were:

1- Lower ex-rate in open market as the main and determining factor

2- The psychological atmosphere of the market

With the current situation, billet price in the retail market decreased to around USD 432/mt, while the minimum price of DRI was USD 248/mt, which also was heard at USD 232/mt too. The most important thing that was seen in the market last week was extreme wait and see policy of participants, as a result of which production has fallen sharply.

Long Products

On last Sunday, price of I-beam sizes 14 to 18 in Isfahan was USD 651/mt, which reached USD 628/mt by Wednesday. There are also rumors that beam production lines in Isfahan Steel co have been switched to rails, so the price of beams will be subject to demand this week, which justifies the gap between the market price and the stock market. Isfahan Steel co sold its I- beam on IME at an average base price of USD 470 /mt, but its delivery is for two months later.

Average price of rebar on last Sunday was USD 525/mt, which reached USD 505/mt ex-work including VAT by Wednesday. The large price gap between billet and rebar at IME shows that rebar producers can’t afford their products costs, therefore production level is declining.  Main cause of the recession in rebar market has been the negative sentiment prevailing in the market and the downward trend of currency rate.

Flat Products

Price of 2 mm thickness HRC was announced on last Sunday in Isfahan at USD 875/mt, which reached USD 844/mt ex-work including VAT by end of the week, and in some cases was up to USD 828 /mt. Mobarakeh Steel co HRC thickness 3 - 15 mm on Sunday was USD 755/mt ex-work Isfahan, which decreased to USD 734/mt by Wednesday.

Oxin Co HRP also experienced some drops from USD771 /mt to USD 758 /mt by end of the week.

CRC thickness 0.40 - 2.5 mm was priced at USD 1165/mt ex-work including VAT on Sunday and decreased to USD 1142/mt by Wednesday.

HDG market followed downward trend of HRC and for thicknesses of 0.50 to 1.5 mm, dropped from USD 1130/mt to USD 1100/mt ex-work including VAT by end of the week.

CBI weekly average ex-rate for Steel Products (SANA): Rials 189.586 / 1USD

17 Aug 2020

Aug 17, 2020 11:54
Number of visit : 916

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