Billet
Billet price improved a little during last week in Iran. Billet size 150 mm increased by USD8 /mt to USD703 /mt on truck in Anzali including 6% VAT by end of the week.
There were some offers in the market up to USD705 /mt but limited transactions were done. Buyers were more interested to buy 500 tones parcels.
Billet import level to Iran has dropped but demand level is limited in Iran.
Long Products
Iran long products market was depressed and there was no interest to buy from IME ( Iran Mercantile Exchange) as buying from IME would costs more than what traders can sell in retail market. Domestic mills have decreased production level but their prices are not competitive. By middle of last week it was announced that Esfahan Steel Mill products delivery time will increase so it helped prices to improve up to USD4 /mt but as demand was scarce, deals were done just for immediate needs.
Liquidity shortage is apparent in long products market, therefore market participants avoid risking. Market confidence has declined due to fluctuations and it needs a bright and secure future market sentiment to be improved.
Flat products
Price of HRC 2 mm thickness increased by up to USD16/mt to USD858/mt on truck in Anzali including 6% VAT. Higher ex-rate by middle of the week helped flat products market sentiment. Price of 2.5-12 mm thickness was stable and in some cases dropped by USD4/mt.
Market demand for hot rolled plate from Oxin and Kavian Steel Mills was down and prices were depressed.
In CRC market prices were down by USD12/mt but demand level didn’t improved.
HDG market was quiet like previous weeks despite limited market inventory and deals are just for immediate needs.
(Ex-rate: In Exchange Room: Rials 24,898/USD)
Note: Prices have been converted from Rials to USD using exchange room rate as a base.
Iran Steel Service Center