Billet
Billet price was upward
during last week in Iran. Average price of sizes 125 and 150 mm Started the
week at USD 601.5 /mt on last Saturday, By Sunday it dropped to USD 583/mt but
by Monday onward it started rising to reach USD 632/mt ex-work including 9% VAT
and custom duties. Higher long products prices made billet price upward.
Actually long products market activity increased and improved billet
demand.
Billet market participants believe that
current prices are the bottom level as DRI base price at IME was USD 378 /mt
with no demand and outside of IME was transacted at USD 309.5 /mt.
Long products
Long products market
activity improved by last week but generally long products were downward. Debar
diameter 8-32 mm decreased from average price of USD 818/mt to USD 771.5/mt
ex-work including 9% VAT. By end of the week it improved to USD 794 /mt .
I-beam price experienced the same trend. By Saturday, average price of I-beam
sizes 14,16,18 mm was USD 932 /mt , it dropped to USD 898/mt and again improved
to USD 988/mt till Wednesday.
Esfahan Steel co as
market leader didn't supply during last week. Warehouse of many traders was
empty. They thought prices are at the bottom and started buying. If billet
price decline at IME, long products market will be again downward. Therefore,
many market participants were buying cautiously. They are waiting for new
offers of DRI and billet at IME.
Flat products
Mobarakeh Steel co finally by last week decreased its base prices at IME.
HRC class B base price declined from USD 1095/mt of around a month ago to USD 952/mt
by last week in deals which shows around 10% decline. CRC price also dropped
from USD 1330/mt to USD 1194/mt ex-work excluding VAT. This downward trend shows that market is
waiting for lower prices.
HRC 2 mm thickness was USD 1083/mt ex-work Esfahan including 9% VAT by
last Saturday. Retail market price is near IME base price of USD 952/mt when
declining 9% VAT, premiums and other costs. Thicknesses 3-15 mm declined from USD 996/mt
to USD 991/mt. Oxin co HRP thickness 10-40 mm dropped from USD 942/mt to USD 926.5/mt ex-work
including 9% VAT. Kavian co product
dropped from USD 888/mt to USD 877/mt ex-work including 9% VAT. Kavian and Oxin steel co HRP prices are
affected by slab price which is expected to drop by 10%.
CRC
thickness 0.40-2.5 mm average price dropped from USD 1573/mt to USD 1477/mt due
to market sadness and expectation of downward prices. CRC demand level has
declined significantly.
HDG
price was downward from USD 1911/mt to USD 1794.5/mt ex-work including 9% VAT
for thickness 0.40-1.5 mm.
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Official
Ex-rate (CBI):
Rials 42,000/1USD
Dec 24,
2018
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Iran
Steel News Bulletin