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Iran steel market Trend in Week 06th , 2021

Iran steel market Trend in Week 06th     , 2021

Billet

Billet price was almost unchanged during last week in Iran domestic market due to lack of long products demand. It started the week at USD 476.4 /mt and finished it at USD 475.5/mt ex-work including 9% VAT.

Long Products

Rebar market was quiet. Limited demand and market future ambiguities didn’t let prices improve. Rebar price was around USD 534/mt by end of the week.

I-beam price declined by USD 4/mt till end of the week to USD 539 /mt. This product was also faced with lack of demand and didn’t change much.

Iran steel market is in a fragile condition. Demand level has reached its bottom, so any change in the price of long products depends on two factors; Exchange rate and supply level.

Flat Products

HRC 2 mm thickness was USD 859 /mt on Saturday ex-work Esfahan, which reached USD 867 /mt ex-work including VAT by the end of the week. Absence of some big traders caused this upward trend.

3 to 15 mm thickness HRC also followed the same trend.

Oxin co HRP was faced with a price increase. The mill has not yet made a decision to sell its product, and this has led to a decrease in market inventory and an increase in its price. Its price rose from USD 823/mt to USD 837/mt ex-work including VAT.

Kavian co HRP had a limited price increase of USD 4 /mt to USD 743 /mt, which was mostly affected by higher ex- rate on Tuesday.

CRC market was also quiet and just changed a little by Tuesday due to higher ex-rate. It increased from USD 1130/mt to USD 1142/mt ex-work including VAT.

HDG market was unchanged at around USD 1083/mt due to quiet sentiment of HRC market.

CBI weekly average ex-rate for Steel Products (SANA): Rials 236,394USD

15 Feb 2021

 

Feb 15, 2021 13:06
Number of visit : 857

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