Billet price was on a downward trend due to
weakness of the market to USD 514/mt ex-work including VAT. While export market
is very strong, and this does not increase the supply of billet in domestic
Lack of demand made rebar price down from
USD 590/mt to USD 585/mt by end of the week.
Despite Esfahan Steel co market control,
I- beam average price dropped from USD 693/mt to USD 689/mt ex-work including
Mobarakeh steel co
HRC 2 mm thickness was USD 788 /mt on Saturday, which reached USD
754 /mt by Wednesday. Weak demand and
rumors about the cheap supply of the mill at IME market caused the price to
Limited supply made Oxin co HRP improved from USD 891/mt to USD 896/mt,
but its demand is very limited.
CRC market was
stable during the week at USD 1066/mt but by end of the week higher supply of
some sizes beside possibility of higher import supply made price down to USD 1061/mt
ex-work including VAT.
Due to lower HRC price and ex-rate decrease, HDG
price also had a limited decrease from USD 1014/mt to USD 994/mt by end of the
China market is still quiet and waiting until the
National Congress of the Communist Party end. Oil price has decreased due to stagnation
of global market, but market does not expect a large price decrease at the
moment due to reduction of two million barrels supply of OPEC+.
worried most people involved in economic issues is the economic recession ahead
in global markets, and for this reason, all market participants are moving
forward with caution, as a result of this, demand is downward.
market, the outlook is not clear, DRI is in good demand, and this is driving billet
price up at IME, but long products demand is very weak. In the current
situation, what keeps the steel industry going is billet export, which is
apparently working very strongly. In the current situation, most of the economic
activists prefer to move with very slow and calculated steps, considering the
international situation and Iran domestic market situation.
CBI weekly average ex-rate for Steel
Products (SANA): Rials 270,350/ 1USD
17 Oct 2022
Iran Steel News Bulletin