Iran domestic billet market was upward due to increased export level and
rising prices in global markets, while the domestic market was also facing with
higher DRI and scrap price which allowed billet price to improve more. Billet
was up from USD 437/mt on last Saturday to USD 473/mt ex-work including 9% VAT
by end of the week.
Rebar price improved from USD 479/mt to
USD 525/mt ex-work including VAT by end of the week as export market was upward
and billet price increased.
I-beam price improved
a little by USD 3.5 /mt to USD 533/mt ex-work including VAT by Wednesday, due
to its higher base price at IME. Esfahan Steel co offers were not attractive,
especially since its delivery time would be in the second half of March. It
seems that the mill is facing with some problems in supplying I-beam.
Price of HRC thickness 2 mm increased
from USD 835 /mt on Saturday to USD 882 /mt on Wednesday. Due to the limited
supply, Mobarakeh Steel co HRC was going up and this trend will continue.
Oxin and Kavian co HRP price were upward
due to global markets upward trend, inventory limitations and rising slab price
at IME, while producers are cautiously watching global markets. Oxin co HRP
improved from USD 672/mt to USD 692/mt and Kavian co product also rose by USD 27/mt
CRC market was quiet due to lack of
demand and price declined a little by USD 3/mt to USD 1065/mt by end of the week.
HDG price was upward due to higher HRC
price but improved slowly from USD 984/mt to USD 1008/mt ex-work including VAT.
weekly average ex-rate for Steel Products (SANA): Rials 255,092 USD