Billet
Billet price was upward during last week in Iran. By last Saturday,
average price of sizes 125 and 150 mm was USD 582 /mt ex-work including 9% VAT,
which reached USD 593.5 /mt by end of the week.
Supply level had declined by domestic leaders but market was also
quiet. By Tuesday, transportation by trucks became limited as drivers went on a
strike and by Wednesday afternoon billet deals became stopped completely. DRI
transportation was in trouble by Monday onward but scrap trucks were working
till Wednesday. If this strike finish in coming week, market sentiment will
became normal too.
Long products
Debar price was almost stable during last week in Iran. Average
price started the week at USD 671 /mt ex-work including VAT. By Sunday onward
mills tried rising prices which by Tuesday reached USD 673/mt. But as truck
drivers’ strike began, market became quiet. Some mills declined prices but it
didn’t help demand.
I-beam was also in the same situation as debar. Market participants
expected its improvement as average price of sizes 14-18 mm rose from USD 733
/mt to USD 737/mt ex-work including VAT by Tuesday last week. But as both
buyers and sellers found that won’t be any transaction in real due to strike of
truck drivers, market was stopped. Other long products experienced the same
situation during last week in Iran.
Flat Products
HRC 2 mm thickness started week 21 in Iran at USD 714 /mt on truck
in Anzali including 9% VAT and custom duties. Its price dropped by USD 2-4 /mt
by end of the week. Thicknesses 3-15 mm was in limited supply .
Average price dropped from USD 925/mt to USD 682/mt by end of the week. Oxin co
HRP thicknesses 10-40mm declined by around USD 4 /mt to USD 711/mt ex-work
including VAT. Supply level has improved and made market more competitive.
Kavian co HRP supply level was limited last week but Oxin co HRP was offered
for some thicknesses at width of 1.8 m.
CRC price improved a little by last week in Iran due to truck drivers’
strike which made import cargoes availability limited. But generally at the
moment Mobarakeh Steel co CRC is more competitive against import cargoes as are
cheaper and available in small lots.
HDG market was almost unchanged as supply and demand are balanced
like previous months.
Official Ex-rate (CBI):
Rials 42,000/1USD
28 May,2018
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Iran Steel News Bulletin