Iran steel market Trend in Week 53rd, 2020

Iran steel market Trend in Week 53rd, 2020


As expected, Iran billet market was bullish last week and average price for billet size 150 mm increased from USD 466/mt to USD 496 /mt ex-work including 9% VAT. Main reason for higher price was upward global prices, strong demand and better export market trend. Apart from that, supply of DRI and scrap is also severely limited in domestic market.

Long Products

The uptrend was followed last week in Iran long products market, but the reason was positive market Sentiment. Market participants were expecting this trend continue this week too. Average rebar price rose from USD 512/mt to USD 543 /mt including VAT by end of the week.

I-beam price was stable due to lack of real demand and long delivery times, which pushed back the demand.

Flat Products

2 mm thickness HRC was priced at USD 894 /mt on Saturday, which reached USD 902 /mt by end of the week. Demand level was weak.

Price of HRC 3 to 15 mm thickness rose due to supply constraints on the one hand and the hope of rising prices affected by global upward prices on the other.

Oxin co HRP price continued to rise, mainly due to rising export slab prices. It was up from USD 687/mt to USD 714/mt.

CRC had a slow market while prices were rising. CRC was offered in the market, but demand was limited. Upward trend was mainly due to positive sentiment. Its average price rose from USD 1065 /mt to USD 1119/mt ex-work including VAT.

HDG market was faced with lack of demand but higher HRC price made its market upward from USD 1023/mt to USD 1054/mt.

CBI weekly average ex-rate for Steel Products (SANA): Rials 255,019 USD

04 Jan 2021

Jan 4, 2021 09:48
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