Billet
Billet price was
downward during last week in Iran. Average price of sizes 125 and 150 mm
dropped from USD 964 /mt to USD 884 /mt ex-work including 9% VAT. Market was
almost closed as deals were scarce and mills like Khouzestan Steel co were not
offering at all.
Market was generally
quiet and negative sentiment was clear. Mills have problem for selling their
billet, so production level will decline, besides long products market is not
in a good situation too.
long
products
Long products market
was downward too. Average price of debar size 8-32 mm decreased from USD 1107
/mt to USD 1057 /mt ex-work including 9% VAT. Market is expected to be downward
in coming days more serious as demand was scarce among traders. Besides,
traders which have stock would prefer selling faster which will affect prices
more negatively.
I-beam price was
also downward as average price of sizes 14,16,18 mm decreased from USD 1083 /mt
on Saturday to USD 1055.5 /mt ex-work including 9% VAT on Wednesday. During last week no long products cargo was
offered at IME.
Flat
products
HRC 2 mm thickness
experienced USD 119 /mt decline during last week in Iran to reach USD 1190 /mt on
truck in Anzali incouding 9% VAT and custom duties due to market quiet
sentiment. Lack of demand is serious in HRC market. Ahwaz Rolling and Pipe co
product price declined from USD 1167 /mt to USD 1048 /mt ex-work including 9%
VAT as there was no customer in the market. Around 30,000 mt of Khouzestan
Steel co slab was offered at IME but there was customer for 20,000 mt of it. In
coming days demand level will decline more. For thicknesses 3-15 mm, prices
declined from USD 993 /mt to USD 930 /mt ex-work including 9% VAT. Average
price of Oxin co HRP dropped from USD 1001
/mt to USD 984 /mt.
Average
price of CRC thickness 0.40-2.5 mm was USD 1438 /mt including VAT last Saturday,
demand was limited but low market inventory made price rose to USD 1458 /mt.
Supply shortage and downward trend in prices is expected in coming weeks.
HDG was
the only steel product with no significant change during last week due to
limited supply and limited market inventory during previous year. HDG thickness
0.40-2 mm changed from USD 1533 /mt to USD 1532 /mt ex-work including 9%
VAT.
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Official
Ex-rate (CBI):
Rials 42,000/1USD
Aug 20 ,
2018
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Iran
Steel News Bulletin