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Iran Steel Market Trend in Week 18th , 2023

Iran Steel Market Trend in Week 18th  , 2023


Billet price had an upward trend due to the rise of DRI and the lack of inventory of re-rollers from USD 623/mt to USD 636/mt, but at the end of the week lower ex-rate made it downward to USD 625/mt ex-work including VAT.


Long Products

Rebar price was upward due to the upward trend in currency prices and supply restrictions, but at the end of the week, market fever subsided with ex-rate downward trend. Its average price changed from USD 724/mt to USD 743/mt ex-work including VAT.

I-beam price was unchanged at USD 843/mt as maket leader Esfahan Steel co managed the market.


Flat Products

HRC price improved a little due to the increase in currency rate. Market confusion about the supply of Mobarakeh Steel co at IME caused sellers to wait for the supply side. HRC 2 mm thickness improved by USD 52/mt to USD 976/mt ex-work Mobarkeh.

The downward trend in currency rate and demand besides lower global prices lowered Oxin co HRP a little from USD 899/mt to USD 882/mt.

Lack of demand and limited supply level made CRC price almost unchanged at USD 1390-1396/mt ex-work including VAT.  HDG price also slightly changed from USD 1361/mt to USD 1374/mt.


Weekly Analysis:

In world market:

In the world market, prices are going down, and for this reason, Iran's export trend is decreasing both in terms of price and quantity. Iran Mercantile Exchange policies based on exporting through the export ring have created serious restrictions in export market. The downward trend in oil price on the one hand and lower scrap prices on the other hand do not show any positive prospect for price improvements in the next week or two.Turkey, as an influential factor in the scrap market, is facing minimal demand until the presidential election, therefore, it does not seem that scrap price will change until the end of this month.

In domestic market:

But in Iran domestic market, the government is trying to stimulate export by limiting domestic demand, but the policies of the Mercantile Exchange is in the opposite direction of the government's goal. Limiting the demand in IME for purchases makes market participants not to worry about the supply level, therefore, maintaining the inventory level is the main policy of traders.


CBI average ex-rate for Steel Products (SANA): Rials 381,139/ 1USD


08 May 2023


Iran Steel News Bulletin




May 8, 2023 16:17
Number of visit : 317


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