Billet
Average billet price in Iran domestic market increased by USD 30 /mt during
last week to USD 428 /mt ex-work including 9%VAT. Higher global prices made
domestic market also upward. Iran billet export price has also improved to more
than USD 500/mt fob.
Recent upward trend in world market has been a good excuse for Iranian billet
suppliers to raise base price at IME ( Iran Mercantile Exchange). In a
situation where finished steel product market does not have the tendency to
increase prices, re-rollers will not be interested to buy billet and billet
suppliers will continue to export.
Long
Products
Average rebar price increased by about 7% during last week in Iran to USD 474
/mt ex-work including VAT. I-beam price increased by 14% from USD 465 to USD 535/mt.
The average selling base price of rebar on IME was USD 408/mt and I- beam with
delivery of three months later was USD 427/mt.
Many re-rollers are not satisfied with current prices, besides they have
liquidity problems and due to upward trend of billet market and DRI supply
shortage are facing with difficulties.
Flat
Products
HRC thickness 2 mm
was USD 690 /mt on last Saturday in Isfahan, which reached USD 845 /mt by end
of the week. Price of HRC thickness 4 to 15 mm increased by USD 59 /mt to USD 652/mt.
Oxin co HRP, which was USD 613 /mt for thicknesses of 10 to 40 mm on Saturday,
reached USD 637 /mt by end of the week. Kavian co, which offered thicknesses of
15 to 25 mm, increased its offer prices from USD 557 /mt to USD 569/mt.
Supply restrictions of
Mobarakeh Steel co products and lowering the quotas of downstream manufacturers
have been effective in this price increase, while some thicknesses, such as 12
mm, face severe supply constraints.
CRC price rose from USD
974/mt to USD 1050/mt, but still was not welcomed by buyers. Anyway, market
inventory is very limited if demand improves.
Higher HRC and zinc
price, made HDG price upward from USD 904/mt to USD 982/mt.
CBI
weekly average ex-rate for Steel Products (SANA): Rials 256,657USD
14 Dec
2020