Billet
Billet price was downward during last week in Iran. Average price of sizes
125 & 150 mm declined from USD 842.5 /mt ex-work including 9% VAT on
Saturday to USD 811 /mt on Tuesday. Market was not in a good situation as long
products demand has also declined and billet suppliers prefered reducing stock
level and stopped producing billet.
Market insiders had different ideas about billet price trend in coming
days. One group think billet price will rise due to lower production level and
the others believe billet price will continue declining as DRI price has been
downward too. Generally it is unlikely that billet price in Iran drop to a
level lower than USD 714 /mt ex-work including 9% VAT.
long
products
Average price of debar dia 8-32 mm was downward from beginning of the week
as declined from USD 1006 /mt to USD 968 /mt ex-work including 9% VAT. By
Wednesdays some positive signs especially higher export inquiries made market
up to USD 990 /mt ex-work including 9% VAT.
Average price of I-beam was unchanged for sizes 14,16,18 during last week
at around USD 997 /mt ex-work including 9% VAT. Generally, market was quiet due
to current situation and also religious Holidays in both Iran and Iraq.
Flat
products
Imported HRC 2 mm
thickness was USD 1190 /mt on truck in Anzali including 9% VAT and custom
duties last Saturday and dropped by USD 3.5 /mt till Tuesday. By Wednesday
started improving again to Saturday level. Domestic product from Ahwaz Rolling
co was USD 71 /mt cheaper.
Market for
thicknesses 3-15 mm was stable and unchanged. Demand was limited and scarce.
Price of Oxin co HRP
was downward as price dropped from USD 926 /mt to USD 884 /mt ex-work including 9% VAT.
CRC price declined from USD 1437 /mt to USD 1430 /mt. CRC consumers were
mostly in summer Holidays and demand was limited. HDG market was stable and didn’t
face any significant change.
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Official
Ex-rate (CBI):
Rials 42,000/1USD
Sep 03,
2018
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Iran
Steel News Bulletin