Billet
Debar market was in dump last week in Iran, so billet price was downward too. Although billet import level during last Iranian month (ended at September 22) dropped around 35,000 tones, but negative trend and low demand have made traders avoid any billet transaction. Meanwhile billet price in global markets is decreasing too.
Iranian Steel mills have made themselves adapted to current situation due to sanctions against Iran and learned how to react at the moment. All these factors lead to wait and see policy of market participants.
Latest offer price of billet size 150 mm in import market was US$620/tones CFR Northern Iranian Port but in the domestic market US$ 730/tones after custom duty and 3% VAT has been heard.
Long products
Long products market in Iran was so confused and ambiguous during last week. By the beginning of the week sections prices started rising, angle and UNP prices were up around US$ 20/mt, debar around US$ 10-20/mt and I-beam by US$ 15/mt. Market trend was the same during the week till Wednesday which debar and I-beam prices were decreasing. Angle and UNP market were rather stable but possible price decrease was expected.
Long products price increase in Iran was not due to rising demand but of course because of low production of supplier mills. Regarding the current situation of the market any price increase is unlikely.
It should be noted that there is a big problem in sections market about increasing inventory. As last purchases of cheap sections especially debar from UAE at price of US$ 600/mt CFR and US$640/mt from other origins is coming to Iran market
Flat products
Flat products market was almost stable but silent last week. kazakhstan origin CRC in small tonnages was available at a few traders stock, this made market imbalanced.
HRC 2 mm thick was transacted for US$ 725/mt fot Anzali at the beginning of the week, then reached US$ 735/mt but finished the week at US$728/mt fot Anzali.
HRC less than 6 mm thick from Mobarakeh Steel Mill is being offered at limited tonnages but due to low demand, its price is so stagnant and changes easily.
HDG price was rising last week as by beginning of the current Iranian year (March 21) HDG import was dropping and has almost stopped currently. If this situation continues, surely will influence CRC market too and would raise its prices.
CIS origin 2 mm HRC is offered for US$ 640/mt CFR and Kazakhstan CRC for US$ 730/mt, all payments by TT.