Billet
Billet market was quiet and unchanged during
last week in Iran. Billet size 150 mm from Khouzestan Steel Co was
Rials12.9-12.95 million/mt ex-work including 9% VAT with no buying interest.
Billet market is under pressure for lowering
prices, but it is almost bottommed and there is no more space for decline.
Besides, if billet price decline, long products
market will be faced with more negative situation as consumers will get back
and wait for more decreases in long products too.
Long products
Long products prices didn’t change significantly during week 34th
in Iran. Average price of debar diameter 14-25 mm was Rials15 million/mt
ex-work Ahwaz and finished the week at Rials14.95million/mt including VAT. The same product price declined from
Rials15.4million/mt ex-work Esfahan including VAT to Rials15.31 million/mt by
end of the week.
I-beam price moved opposite way and improved from Rials15.08 million/mt
to Rials15.283 million/mt ex-work including VAT by end of the week.
Flat Products
HRC market started week 34th
stable, but by middle of the week market became confused and by Wednesday there
was no offer available in the market. The reason was behind a new circular by
custom office regarding import market.
This new circular will put under question
30% of steel import to Iran.
Imported HRC 2 mm thickness which was
Rials17.7million/mt on truck in Anzali port including 9% VAT and custom duty
till Monday, it improved to Rials18 million/mt by Wednesday. By last Thursday
it was not being offered by any seller.
For sizes 2.5-15 mm, prices were almost unchanged due to lack of demand
and limited supply level.
HRP market sizes higher than 15 mm was
confused. Domestic prices were upward as Oxin Steel Co was not supplying.
Besides, Chinese material was available in the market.
CRC market was stable by first half of last
week, but by Tuesday onward with new circular announced by custom office,
sellers stayed back and prices increased significantly.
HDG market is facing with low availability
as some mails are in summer holidays. Therefore prices are ready to improve but
lack of demand won’t let that happen.
Ex-rate:
Official rate: Rials31,200
/1USD
In open market: Rials 35,550/1USD
27 Aug 2016