Billet
Billet price was
almost stable during last week in Iran. Last Sunday, sellers mostly were in
waiting mood to see what will happen at IME for DRI deal of Sirjan Steel co. It
finally was sold at base price of USD 309 /mt ex-work excluding VAT. Sabzevar co
DRI was sold at IME on Wednesday at USD 281 /mt ex-work excluding VAT.
According to downward trend of long products and its market sadness, billet
price in retail market declined from USD 673 /mt ex-work including VAT on
Sunday to USD 669 /mt ex-work including VAT by end of the week. But as debar
price became upward by Wednesday, some talks about upward trend in billet market
was heard. Generally, market trend is not clear due to many issues such as lower
export level in near future and rising domestic supply.
long
products
Debar price declined
during last week as expected. Average price of sizes 8-32 mm dropped from USD 769
/mt to USD 762 /mt ex-work including VAT by Tuesday. Lower supply level made
market sentiment reversed and by Wednesday price rose again as some mills were
offering by USD 12 /mt higher by Thursday. Actually lower billet supply made debar price
upward. I-beam price experienced the same trend by first half of the week was
downward from USD 769 /mt to USD 768/mt ex-work including VAT and rose again to
USD 776 /mt ex-work including VAT by end of the week.
Flat
products
Imported HRC 2 mm
thickness started the week at USD 781 /mt on truck in Anzali including VAT and
custom duties, which stayed unchanged till end of the week. But it is expected
to rise as:
1- foreign sellers
have stopped offering to Iran
2- exchange rate has
increased
Import level during
second month of current Iranian year ( 21 Apr-21 May) was 27,613 tones which
dropped to 10,801 tones during last
month ( 22 May-21 June). Meanwhile HRC average import level had been 30,000
tones per month before.
HRC 2.5-15 mm
thickness was sold be average at USD 719/mt ex-work including VAT by last
Sunday and had a stable market till end of the week as was heard at USD 724 /mt
by Wednesday. For thickness 2.5 mm, Mobarakeh Steel co supply level has
declined currently and its market share has been satisfied by other mills.
HRP market started
the week upward but market couldn’t absorb the rise, therefore prices were downward
as dropped from USD 748 /mt to USD 740 /mt ex-work including VAT by Wednesday.
CRC market was faced
with limited supply level and price upward trend made market confused. CRC
market in Iran has been mostly import oriented. As import market has stopped and
foreign sellers are not offering to Iran, market is deeply confused especially
for thicknesses lower than 0.70 mm.
HDG price was upward
from USD 1026 /mt to USD 1032 /mt ex-work including VAT. As CRC market is
upward, HDG market is also expected to be on the same trend in near future.
Official Ex-rate (CBI):
Rials 42,520/1USD
June 25, 2018
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Iran Steel News
Bulletin