Billet
Last
Saturday billet average price in Iran domestic market was USD 399/mt ex-work
including 9% VAT, which reached USD 415/mt by end of the week. Higher base
price at IME ( Iran Mercantile Exchange) helped its upward trend, while the
market demand was not strong like previous weeks.
Export price
of billet and ex-rate has been upward, besides DRI price is expected to
increase further, therefore billet market trend is clearly upward for a while.
Long Products
Average price of rebar on last Saturday was USD444/mt,
but by end of the week it reached USD454
/mt ex-work including 9% VAT. Rebars bought at IME in the previous weeks do
not allow the retail market price to accelerate fast and the market is looking
at the previous weeks’ purchase prices with limited demand. As a result, although
the price trend is upward, but trading volume is low. Two factors including low
trading volume and cheap inventories of previous weeks, caused the market to be
relatively calm.
I-beam price was faced with a steady trend for
sizes 14 to 18 and the average price of USD 547 /mt on Saturday reached USD 548/mt
ex-work including 9%
VAT by
Wednesday. But large sizes had a sharp increase in price. The reason for the
relative stability of I-beam market was the delivery of September quotas, which
were bought at a cheaper price on IME two to three months ago. I-beam supply volume
at IME is stable, therefore traders are not worried about this product.
Flat Products
HRC 2 mm thickness on last Saturday was USD 720/mt
ex-work Esfahan, which reached USD 735/mt by Wednesday. HRC thickness of 3 to
15 mm in Esfahan, which was priced at USD 582 /mt on Saturday, reached USD 589 /mt
by the end of the week. Last week, slab base price at IME rose from USD 348 /mt
to USD 392 /mt. Higher demand and prices in global markets within last two
months and higher ex-rate were behind this upward trend. But higher export
volume was the main reason. Therefore, Oxin co HRP price rose from USD 573/mt
to USD 574/mt by end of the week. Market is waiting for a surge in prices in
coming month.
CRC market was quiet by beginning of the week.
Its average price changed from USD 948/mt to USD 963/mt by Tuesday, but jumped
to USD 1017 /mt on Wednesday. It is unlikely that the price trend will be
reversed.
HDG, which was priced at USD 899 /mt on last Saturday,
reached USD 943 /mt by end of the week. Higher HRC price and ex-rate made HDG
upward.
CBI weekly average ex-rate for Steel
Products (SANA): Rials 269.404/ 1USD
28 Sep 2020