Billet: Billet price remained stable. Concerns about future demand led to the sale
of most cargos at IME (Iran Mercantile Exchange), while prices in the market
were lower than the exchange market.
Long Products
Rebar: Due to supply problems, rebar price improved
slightly.
I-beam: Increased supply by Esfahan Steel co improved
availability of the market and decreased prices.
Flat Products
HRC: Weak demand has reduced HRC average price. Mobarakeh Steel co 2 mm
thickness HRC stayed unchanged.
HRP: Absence of some suppliers
caused a limited increase in HRP price.
CRC: The drop in price of thin sizes brought average CRC price down.
HDG: HDG price improve as HRC price rose but returned again by end of
the week.
Weekly Analysis:
In the world market: Oil price has risen to USD 80/barrel, of
course, due to political issues not increased demand. Iron ore has improved just
due to increased demand from China as their New Year is approaching. Billet has
dropped by USD 20 /mt recently due to Chinese competition. This trend is likely
to continue due to the need for liquidity by some Chinese mills.
Lower flat products demand in Europe is very noticeable,
which has also caused a decline in prices.
The opening of Syrian market and end of the
war in Gaza mean increased demand for steel for these two devastated countries,
so the global steel market is expected to change significantly in the second
half of the year.
In the domestic market: If our electricity and gas
shortages give us a chance, the future
of export market, especially billet and slab, through Turkey and Iraq, can be
available for the reconstruction of Syria and Gaza. Possible US sanctions against China would be
also an opportunity for the Chinese, and if our officials take the chances ,
they can serve our steel industry, because the Chinese will certainly be
directly or indirectly involved in the reconstruction of these two regions.
CBI average ex-rate for Steel Products (SANA): Rials 660,519/ 1USD
20 Jan 2025
M.Chitsaz
Iran Steel News
Bulletin
IFNAA.IR
IRSTEEL.COM