Average price of billet on last Saturday
was USD 409/mt, which reached USD 429/mt ex-work including 9% VAT by Wednesday.
The reason behind higher billet price was improvement in export price, as well as
the increase in ex-rate. Apart from these two issues, billet in Iran market had
reached its bottom and was not in balance with DRI price, therefore price raised.
Reports indicate that price of
export billet has risen again in the past week, but all those involved in
foreign trades are worried that prices have reached their peak. As domestic
demand has declined, when global prices start dropping, Iran billet price won’t
rise any more.
Due to the Mourning Holidays of
Muharram, the only factor influencing billet price in coming days would be
Average price of rebar on last Saturday
was USD 465 /mt, but market recession made it decline to USD 442 /mt ex-work including VAT. The
downward trend in prices caused buyers to sit back and wait until Monday, when billet
was offered at IME. With the confirmation of billet deal at IME, on Tuesday,
rebar price rose to USD 476/mt, but on Wednesday, the market calmed with the
supply of rebar at IME, and the average price reached USD 467/mt. Some mills
also announced prices up to USD 472/mt ex-work
including 9% VAT, but some parcels of rebar offered
on IME were not sold. The reluctance to buy kept the wait-and-see attitude in
Price of I-beam size 14 to 18 on Saturday was USD
619 /mt, which reached USD 629/mt by Wednesday. As Esfahan Steel co is market
leader and controls it, any significant decline in I-beam price seems unlikely.
HRC 2 mm thickness declined from USD 774/mt to USD 754 /mt ex-work
Esfahan by end of the week. Mobarakeh Steel co HRC thickness 3 to 15 mm was USD
703/mt on last Saturday, but dropped to USD 687/mt by end of the week. Upcoming
Mourning Holidays on one hand and the weak demand on the other hand were
reasons behind this market sentiment. Market participants believe that due to Mobarakeh
Steel co controlling policy, HRC price won’t decline any more.
Oxin Co HRP thickness 10 -40 mm, which was priced at USD 713/mt on last
Saturday, dropped to USD 709/mt ex-work
including 9% VAT by end of the week. Kavian co HRP thickness 12 to 25 mm was USD 649
/mt on average, which decreased to USD 639/mt by Wednesday. The reason for this
decrease in prices is lack of demand and market sentiment.
CRC thickness 0.50 to 2.5 mm, which was priced at USD 1080 /mt on last
Saturday, reached USD 971/mt by Wednesday. The decrease in demand was one of
the factors affecting prices
HDG thickness 0.50 -1.5 mm was priced at USD 1031/mt on Saturday,
which reached USD 1010 /mt ex-work
including 9% VAT by Wednesday. Lower HRC price and market recession made HDG price
CBI weekly average ex-rate for Steel
Products (SANA): Rials 199.015 / 1USD
31 Aug 2020