Billet
Lower demand made billet price fall during
last week in Iran domestic market from USD 588/mt to USD 584/mt ex-work
including VAT.
Long Products
Rebar demand is very low and its price trend
was downward for this reason from USD 667/mt to USD 658/mt.
I-beam price was also down due to the same reason from USD 707/mt to USD 701/mt
ex-work including VAT.
Flat Products
HRC 2 mm thickness was USD 943 /mt ex-work Mobarakeh on Saturday, which reached USD 928/mt by
Wednesday. Market expectations made prices downward.
Lack of demand made Oxin
co HRP down from USD 857/mt to USD 853/mt.
CRC was faced with a cold market which pushed its
average price down from USD 1150/mt to USD 1146/mt by end of the week.
HDG market was also quiet at around USD 1136/mt
ex-work including VAT.
Weekly Analysis:
In the world market:
Global market is still standing and there has
been no change, oil continues its slow upward trend. As the end of the
year approaches, global markets will be in a seasonal boom. It seems that
China's property market will come out of crisis in the coming months with efforts
of the government. In any case, the
global market outlook is not bearish.
In the domestic market:
Uncertainty is governing domestic market that has
caused demand low. The first ambiguity is lack of clarity of the government's plan
with the freed currency. The second ambiguity is caused by the continuation of meetings in
Qatar, which affects the currency market. The third issue is problem of lack of liquidity in the market and
lack of clarity in the government's economic policies. In the current situation, the third issue is very serious.
The market has spent last month in silence and
closures due to Holidays and hopes to move in the current month, but the
downward trend in billet price and silence of finished products market dims
this hope unless the government takes another policy.
The imposition of
export duties on the export of steel, iron ore and coal by Russia will
strengthen our steel export market. This can be a ray of hope in our
semi-closed market.
CBI average ex-rate for Steel Products
(SANA): Rials 371,008 / 1USD
25 Sep 2023
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
IRSTEEL.COM