Billet
Billet price was
rising last week in Iran. On last Saturday, average price was USD 337 /mt
ex-work including 9% VAT, which reached USD 345/mt by Wednesday. The upward
trend had two reasons:
First, higher
ex-rate , which continued its upward trend last week.
Second, DRI supply
restriction by small producers and cancellation of past DRI deals at IME ( Iran
Mercantile Exchange), which led to an accumulated demand in IME.
During the last two
weeks, there has been virtually no DRI trading on IME. However, the price of DRI
in the global market has not changed much and has fluctuated between $ 340 and
$ 350.
Over the past few
weeks, price of DRI has increased from USD 158/mt to USD 167 /mt, depending on supply
location. However, recently we have seen large supply of DRI. The market is
heard to be lower than the prices of the previous month. One of the main
reasons for the decrease in DRI and pellet price is the decrease in iron ore
export.
Long
Products
Average price of rebar
was USD 385 /mt last Saturday, which reached USD 383 /mt due to the market
recession until Monday. With the improvement of currency rate on Tuesday and
Wednesday, we witnessed an increase in the price of rebar. On Wednesday, its average
price increased to USD 390 /mt.
I-beam price went
through the same trend. Its average price for sizes 14 to 18 in Isfahan was USD
465/mt. Until Monday it reached USD 459/mt, but from Tuesday it started to rise
and on Wednesday it became USD 471/mt ex-work including VAT.
Flat
Products
Price of 2 mm
thickness HRC on Saturday was USD 570/mt, which reached USD 550 /mt ex-work Isfahan
by end of the week. Its price was USD 538/mt ex-work Ahwas by beginning of the
week, then from Monday onward was not being offered.
HRC thickness of 3
to 15 mm was USD 554 /mt in Tehran on last Saturday, but the downward trend make
it USD 539 /mt by Wednesday.
Oxin Co HRP price was upward from USD 670/mt to USD 694/mt by last
Wednesday. But market was quiet due to Eid al-Fitr Holidays comming
CRC market is faced with very complicated condition and every day becomes
more complicated. The main reason is market leader Mobarakeh Steel co’s
policies.Average price of thicknesses 0.40-2 mm changed from USD 960/mt to USD 965/mt.
HDG market had a downward trend and fell from USD 837/mt to USD 819/mt.
The reason for this decline was lower HRC price.
CBI
weekly average ex-rate for Steel Products (SANA): Rials 170.968 / 1USD
26 May
2020
https://www.irsteel.com
https://www.ifnaa.ir