Billet
Billet price was downward during last week in Iran due to weak rebar demand.
The downward trend in DRI prices also influenced billet market negative
sentiment. Although DRI supply level is very limited, but billet production is
not in shortage of raw materials too due to power outages.
Average billet price declined by USD 2 /mt to USD 491 /mt
ex-work including 9% VAT.
Long
Products
Rebar had a steady
trend due to market silence. Demand has reached its bottom, while profit
margins of mills and traders have reached a minimum. Price fluctuations have
made traders very cautious and they pay less attention to the stock market
signals. Rebar price changed from USD 544 /mt to
USD 549 /mt ex-work including 9% VAT by
end of the week.
I-beam market
experienced a relative improvement due to reduction of traders' inventories, while
Esfahan Steel co offers at IME also were faced with some declines in base
prices. Its price rose from USD 555/mt to USD 562/mt ex-work including 9% VAT.
Flat
Products
HRC thickness 2 mm
was traded at USD 893 /mt on last Saturday in Esfahan market, which did not
change until the weekend. Mobarakeh steel co changed its supply system and
increased the base price at IME on Monday, causing the price to peak in the
market, while changing its cost table, which will have an impact on the final
price of its goods in the coming months.
Oxin co HRP was faced
with a price jump from USD 760 /mt to USD 813 /mt due to supply shortage and
some rumors by end of the week. The plant does not appear to have a plan for delivering
ST-37 grade in the near future as it has sufficient demand for alloyed product.
Due to the silence
of demand, Kavian co HRP was relatively stable at around USD 746 /mt.
CRC market was stable
at around USD 1148/mt. With HRC price rising, market will probably see a
relative improvement in CRC price too.
Following HRC price
change, HDG average price also went up from USD 1064/mt to USD 1105/mt ex-work including 9% VAT.
CBI
weekly average ex-rate for Steel Products (SANA): Rials 231,767USD
08 Feb
2021