Billet
Billet price was upward due to the
increase in its base price at IME ( Iran Mercantile Exchange), which was formed
thanks to export market trend. Its average price rose from USD 417/mt on
Saturday to USD 469 /mt ex-work including VAT.
Based on DRI and scrap price and current
transportation costs, billet cost price lower than USD 478 /mt would not be affordable for producers. More
than 170,000 tons of billets were offered on IME, but less than 18,000 tons was
sold. This is a good situation for exporters and a great concern for those who
are just in the domestic market.
Long
Products
Rebar price rose slowly during last week due
to higher base price at IME, but with no buying interest at IME, market turned
back. Average price rose from USD 524/mt to USD 540 /mt, then dropped back to
USD 535/mt ex-work including VAT. 251,000 tons of rebar was offered at IME and just
1620 tons was sold.
I-beam market also experienced this trend.
30,000 tons was offered at IME, but the total product sold was 2,300 tons. Its
average price improved till Tuesday from USD549 /mt to USD 558 /mt, then
declined to USD 541 /mt.
Flat Products
HRC 2 mm thickness was priced at USD 877/mt
on last Saturday, which reached USD 897 /mt by end of the week. Other sizes had
an upward trend due to limited supply of Mobarakeh Steel co.
Oxin
co HRP was faced with a price increase mainly due to limited supply level from
USD 736/mt to USD 766/mt.
Kavian co HRP had an upward trend too, from
USD 696 /mt to USD 723/mt.
CRC market was relatively stable,
Mobarakeh Steel co has confused the consumers with offering different
qualities, but consumption level remained almost constant, while high price
level has reduced its demand.
HDG price had an upward trend, which was
affected by higher HRC price, while demand level is still weak.
CBI
weekly average ex-rate for Steel Products (SANA): Rials 250,769 USD
18 Jan
2021