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Iran steel market Trend in Week 08th , 2021

Iran steel market Trend in Week 08th     , 2021

Billet

Billet price in Iran domestic market declined slightly during last week despite higher base price at IME( Iran Mercantile Exchange). Actually, long products market quiet sentiment and lower ex-rate made billet price downward from USD 477/mt to USD 466 /mt ex-work including 9% VAT.

Long Products

Weak demand along with falling currency rate were two factors behind lower rebar prices. Its average price declined from USD 528/mt ex-work including VAT on Saturday to USD 520/mt by end of the week.

I-beam price also declined by USD6/mt to USD 540 /mt by end of the week mainly due to cheap inventories purchased during previous months, higher supply level by Esfahan Steel co and lower delivery times.

Flat Products

HRC  2 mm thickness was around USD  882 /mt ex-work including VAT on last Saturday, but by end of the week reached USD 854 /mt.

3 to 15 mm thickness HRC of Mobarakeh Steel co was faced with a drop in prices from USD796/mt to USD 788 /mt due to cheap purchased inventories available in the market and limited demand level.

The only flat product which was faced with a price jump was Oxin co HRP from USD 893 /mt to USD 991/mt. The reason was lack of ST-37 quality in the market as the mill was busy with production of other qualities.

Following the increase in Oxin Co HRP price, Kavian co also increased its price level. Kavian Co HRP was up from USD 737 /mt to USD 743/mt ex-work including VAT by end of the week.

CRC market was downward due to market stagnation and falling ex-rate from USD 1127/mt to USD 1106/mt.

Lower HRC and exchange rate, made HDG market also downward but was not very noticeable. Its average price decreased from USD1096 /mt on Saturday to USD 1090 /mt by Wednesday.

CBI weekly average ex-rate for Steel Products (SANA): Rials 243,605 USD

01 Mar 2021

 

Mar 1, 2021 17:12
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