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Iran steel market Trend in Week 36th , 2020

Iran steel market Trend in Week 36th  , 2020

Billet

The average price of billet on last Monday was USD 428 /mt ex-work including 9% VAT. By Tuesday some factors including higher ex-rate made prices at IME increase, this affected retail market too as price reached an average of USD 452 /mt. With the cancellation of billet transactions at IME, the price returned to USD 438 /mt ex-work including 9% VAT on Wednesday.

The main reason of higher price of billet at IME was the increase in the base price, which is due to the increase in export price and higher currency rate.

It seems that authorities’ efforts to control prices will not succeed for reasons including lack of pellet supply, export price trend and exchange rate.

Long Products

Average price of rebar on last Monday was USD 461/mt ex-work including VAT. With the increase in billet price at IME, many mills increased their prices, and for this reason, the average price reached USD 494/mt on last Tuesday, but with the cancellation of billet deal at IME, long products market also became calm.

Average price of I-beam on Monday was USD 606 /mt, which reached USD 637/mt by Wednesday with higher price at IME.

Flat Products

HRC 2 mm thickness started the week at USD 755 /mt ex-work Esfahan and USD 727 /mt ex-work Ahwaz, but on Wednesday it experienced a relative improvement and reached USD 797 /mt in Esfahan and USD 769 /mt in Ahwaz.

Mobarakeh Steel co HRC thickness 3- 15 mm, which was USD 652/mt on Monday, reached USD 674 /mt until Wednesday. Lower supply level and higher ex-rate made prices upward.

Oxin Co HRP thickness 10 - 40 mm was priced at USD 660 /mt ex-work including 9% VAT on Monday, which reached USD 665 /mt by Wednesday. On Monday, Kavian co HRP thicknesses 15, 20, 25 mm were priced at USD 574 /mt, but increased to USD 592/mt by Wednesday. A part of this upward trend was due to higher slab base price at IME which rose from USD 385/mt to USD 395/mt.

CRC thickness 0.40 to 2.5 mm was priced at an average of USD 1017 /mt on last Monday, which rose to USD 1046 /mt ex-work including 9% VAT by Wednesday.

HDG price also experienced some upward trend from USD 965/mt to USD 983 /mt on Wednesday. As zinc price in global markets improved, on Wednesday HDG market price was not clear.

CBI weekly average ex-rate for Steel Products (SANA): Rials  213.199 / 1USD

07 Sep 2020

Sep 7, 2020 14:43
Number of visit : 290

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