Billet price, which
was USD 424 /mt on last Sunday, reached USD 427 /mt ex-work including 9% VAT by
end of the week, while nothing important was happening in long products market.
Billet upward trend was due to higher DRI price, which its base
price was at least USD 209 /mt and up to USD 216 /mt was heard. Another reason for the increase was higher ex-rate and its impact on export
prices. Last week, global iron ore price rose again, which
would help Iran billet export level improvement.
Long products were upward during last week in
Iran. Rebar, which was priced at USD 455 /mt on last Saturday, reached USD 470/mt
ex-work including 9% VAT by end of the week. Base price of rebar at IME ( Iran
Mercantile Exchange) had an increase in its
floor price, and this led retail market too. Besides, actually higher billet
price made rebar base price at IME upward and also ex-rate improvement affected
the market. Anyway, what is remarkable is trades volume, which is getting
smaller every day.
I-beam price had a downward trend and reached USD 531
/mt from USD 539 /mt on last Saturday. The reason for the decrease in price was
last cheap purchased products which came to the market, but with the guidance
of Esfahan Steel co, the fall in price was temporary and slow.
Price of 2 mm thickness
HRC was USD 756 /mt on last Saturday in Esfahan market and reached to USD 785 /mt
by Wednesday. The reasons behind upward trend were supply constraints and
exchange rate increases. Price of HRC 3 to 15 mm thickness increased from USD 605
/mt to USD 618 /mt ex-work including VAT. Higher prices were due to upward
trend of prices at IME, besides, supply level was being controlled.
Oxin co HRP had an
average price of USD 582 /mt on Saturday, which reached USD 613 /mt by end of
the week. Restriction of Oxin co supply is the main reason for this price
Kavian co HRP had the same trend similar to Oxin
co, its price increased from USD 520 /mt to USD 543 /mt by week- end.
CRC price, which was priced at USD 1022 /mt on last
Sunday, reached USD 1051 /mt by end of the week, HDG price was also upward from
USD 940/mt to USD 1002/mt.
Common reasons for these price increases are the
uptrend of semi-finished steel products which is affected by pellet supply constraints
and higher ex-rate.
What influences the weekly changes is mainly exchange
rate, but the long-term trend caused by the problem of raw material supply is
weekly average ex-rate for Steel Products (SANA): Rials 277.859/ 1USD