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