Billet
Billet price rose last week in Iran domestic
market due to higher iron ore price from USD 509 /mt to USD 526 /mt ex-work
including VAT by Wednesday. However, most of billet which was offered on IME(
Iran Mercantile Exchange) on Tuesday had no buyer.
Long
Products
Expectations of an increase in billet price pushed up rebar price during last week from USD 560 /mt to USD
561 /mt ex-work including VAT by end of the week, but cheap inventories
purchased last year, along with lack of real demand, halted the market uptrend.
I-beam market fluctuations was not serious. Buyers saw no incentive to
be active. However, expectation of higher iron ore price pushed I-beam price up
from USD 573.9 /mt to USD 574.6 /mt, but most of I-beams offered on IME had no
buyer.
Flat
Products
HRC 2 mm thickness
was USD 944 /mt on last Saturday, which reached USD 931/mt ex-work including VAT
by Wednesday, and remained almost constant during the week. Other Mobarakeh Steel
co items were also almost stable.
Oxin co HRP price
improved from USD1080/mt to USD 1135 /mt by Tuesday, but market players, which were
worried about the future, began to supply their stocked inventory, so at the
end of the week, price went down to USD 1076/mt, while there was no news of new
Oxin co offers. At the end of last year, the mill received HRP export license,
so supply limit for this product will be more severe in the coming months.
Kavian co HRP price changed from USD 870 /mt to USD 875/mt ex-work including VAT.
CRC market was quiet
as its demand level has not waked up yet. It started the week at USD1153/mt and
finished it at around USD 1163/mt. Due to the stability of HRC price and
exchange rates, HDG price did not change significantly. It was up from USD 1177
/mt to USD 1199/mt.
CBI
weekly average ex-rate for Steel Products (SANA): Rials 230,893 USD
19 Apr 2021