Billet
Billet price was
downward during last week in Iran, mainly due to lower ex-rate in free market.
Average price of billet dropped from USD 986 /mt to USD 918 /mt ex-work
including 9% VAT last Wednesday. Definitely, lower ex-rate will affect Iran
steel export market more as it has been downward by around 59% during first 5
months of current Iranian year ( 21 March-22 August).
long
products
As ex-rate declined,
long products also became downward during last week in Iran. Average price of
debar diameter 8-32 mm dropped from USD 1175.5/mt to USD 1114.5/mt
ex-work including 9%
VAT. As market participants are in wait and see mood, it is expected that prices
continue declining till exchange market became stable. May market need at least
2 weeks for showing a clear trend.
I-beam had the
lowest fluctuation last week between long products as size 14-18 dropped from
USD 1198/mt to USD 1178.5/mt ex-work Esfahan including 9% VAT last Wednesday.
Flat products
Imported HRC 2 mm thickness was last Saturday
USD 1428.5 /mt on truck in Anzali port including 9% VAT and custom duties and
USD 1512 /mt in Amirabad port. It
started dropping till end of the week as reached around USD 1428.5/mt.
In domestic market, different mills offer were
around USD 1286-1405 /mt ex-work including 9% VAT. But transporting cargoes is almost
stopped yet. Moberakeh Steel co product thickness 3-15 mm dropped from USD 1056
/mt to USD 1000/mt ex-work including 9% VAT by end of the week. Oxin co HRP
thickness 10-40 mm also decreased from USD 1033/mt to USD 1006/mt ex-work
including 9% VAT.
In CRC market demand was scarce due to
transportation problems, besides lower ex-rate has made buyers more far away
from deals. Average price of CRC thickness 0.50-2.5 mm dropped from USD 1754/mt
to USD 1714/mt. .
HDG market was almost unchanged till last
Tuesday around USD 2039-2055/mt ex-work including 9% VAT, with lower ex-rate in free market, HDG price also dropped finally to around USD 1973/mt. But market inventory
is low and number of sellers limited, therefore HDG price won’t fluctuate
significantly.
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Official
Ex-rate (CBI):
Rials 42,000/1USD
Oct 08,
2018
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Iran
Steel News Bulletin