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Iran Steel Market Trend in Week 10th , 2023

Iran Steel Market Trend in Week 10th  , 2023


Billet price had a downward trend from USD 712/mt to USD 698/mt ex-work including VAT, which was affected by lower ex-rate and the government's efforts to decline prices.  


Long Products

Rebar price went down from USD 975/mt to USD 940/mt during last week in Iran domestic market. Government's intervention, lower ex-rate and inflationary expectations were the reasons behind downward trend of rebar price.

I-beam downward trend was very noticeable as declined from USD 1269/mt to USD 1119/mt. Higher supply level along with market's expectations towards future price trend were the main factors behind this trend.


Flat Products

Price of 2 mm thickness HRC ex-work Mobarakeh was USD 1351 /mt on last Saturday, which reached USD 1270 /mt by Tuesday.

According to the market sentiment affected by ex-rate decline, Oxin co HRP also decreased from USD 1322/mt to USD 1239/mt, this product’s price has reached its bottom.

Lower ex-rate and market participants cencerns about more downward trend made CRC downward from USD 2158/mt to USD 1944/mt.

Lower currency rater and downward HRC price made HDG market also downward from USD 1931/mt to USD 1843/mt ex-work including VAT.


Weekly Analysis:

In the global market, prices are still bullish. Iron ore has remained almost stable while slab and billet price have grown. Iranian mills are facing with strong demand for these two products, therefore, export market remains strong.

In the domestic market, despite upward prices in the world market as previous last weeks, the government is strongly trying to reduce prices. What is certain is that the government is strongly trying to lower prices in the domestic market and its goal is to sell billet in the range of USD 631-702/mt inclduing VAT, for this reason market will exprience in the coming weeks higher supply of DRI and billet and decrease in their base prices at IME. The re-rollers are dealing with a shortage of billet caused by cancellation of transactions at IME in early March, so they welcome the method, but the government's behavior creates a negative attitude towards the market trend.

 As a result, demand will drop as we have seen, especially since there is practically only one working week left for the market till New Year Holidays, and during this week until the middle of April, billet producers and re-rollers will have time to rebuild their warehouses. After that, the government will again be involved in the conflict between price and demand. On one hand, prices are downward, on the other hand, demand is lagging behind until prices reach the bottom level, so the market will take a wait-and-see policy until the end of April, when the future outlook would be more clear.


CBI weekly average ex-rate for Steel Products (SANA): Rials 285,000/ 1USD

13 March 2023


Iran Steel News Bulletin



Mar 13, 2023 15:15
Number of visit : 162


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