price had an upward trend during last week in Iran domestic market by USD 10/mt
to USD 503/mt ex-work including VAT, which was caused by lower supply level which
market insiders think that would continue.
Rebar price improved a little from USD 566/mt
to USD 573/mt. Transportation
problem reduced rebar transactions volume.
average price increased by Esfahan Steel co market management from USD 645/mt
to USD 678/mt.
Mobarakeh steel co HRC 2
mm thickness was USD 752/mt on
Saturday, which reached USD 756 /mt ex-work by Wednesday.
Oxin co HRP dropped from
USD 853/mt to USD 844/mt by end of the week. Limited demand and higher supply
made the market downward.
CRC market was up by USD 12/mt
to USD 1041/mt. White good producers’ CRC demand increased and made prices
upward by end of the week.
HDG price increased due to higher cost price from USD 1040/mt
to USD 1050/mt.
Chinese market has become active with the reduction of the Covid restrictions,
besides, as January and Chinese New Year approach, the Chinese have started buying,
but oil price is on a downward trend and it is likely to continue. Scrap price has increased in recent weeks, and China's
demand improved which helped billet price stabilize. As long as the Chinese continue to buy, the market will
remain stable, but after that, you should expect a drop in the price of billet
because oil is falling. With the opening of the Chinese market, demand would be
upward. Even some economists expect that the inflationary problem
in USA in recent years will also be seen in China, but this will be clear after
the China New Year holidays.
Domestic market, gas supply problem has severely affected DRI supply and has
reached its lowest level at IME (Iran Mercantile Exchange). Despite efforts to increase the supply, production
problem continues, this has made market sure that billet price and therefore
long products prices will be upward. Besides, DRI limited supply has affected
domestic scrap price too. Considering the above, there will naturally be
competition for purchasing DRI and its price will rise. This will directly affect billet supply level and its
price while it is facing delivery problems too. Many experts expect that price of long products will
increase as well.
flat products market, custom duty has declined for HRC and CRC which means
higher export level but its effect will be seen in the market from February
CBI weekly average ex-rate for Steel Products
(SANA): Rials 285,743/ 1USD
12 Dec 2022
Iran Steel News Bulletin