Billet
Billet price was downward during last week in
Iran. Average price of sizes 125 & 150 mm was USD 882 /mt and finished the
week at USD 864/mt ex-work including 9% VAT. Main reason behind downward trend
of billet price was lower demand from re-rollers. Uncertainties about future of
long products market has reduced billet transactions level too. Khouzestan Steel
co sold 20,000 tones of its billet at IME at base price of USD 572 /mt which is
equal to steel scrap price.
long
products
Debar price was downward during last week in
Iran. Market was open by average of USD 1034 /mt ex-work including 9% VAT on
last Saturday, by Tuesday was down to USD 1018.5/mt ex-work including 9% VAT.
Mills are mostly working with minimum capacity and downward trend in production
may continue.
I-beam was in a worse situation with average
price of sizes 14,16,18 mm dropped from USD 1032/mt to USD 1012/mt ex-work
including 9% VAT.
Flat
products
HRC 2 mm thickness was USD 1167 /mt on truck in
Anzali including 9% VAT and custom duty by last Saturday and due to limited supply
reached USD 1190/mt by end of the week. In domestic market, HRC production of Ahwaz
Rolling and Pipe co was in limited supply too as reached up to USD 1143 /mt ex-work
including 9% VAT but demand was limited too. Price of thickness 3-15 mm from
Mobarakeh Steel co dropped from USD 930/mt to USD 923.5/mt ex-work including 9%
VAT. Market is not in a good situation as Khouzestan Steel co offered 70,000
tones of its slab at IME but just 20,000 tones of it was bought at base price
of USD 555 /mt. It is the second week which slab is facing lack of interest
from market participants. Flat products supply will consequently drop
significantly in coming month. Average price of Oxin co HRP also dropped from
USD 952 /mt to USD 937/mt ex-work including 9% VAT which is expected to follow
downward trend in coming days.
CRC thickness 0.50-2 mm was down from USD 1458
/mt to USD 1441/mt due to limited demand level.
HDG market was also downward with no clear
price level.
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Official
Ex-rate (CBI):
Rials 42,000/1USD
Aug 27 ,
2018
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Iran
Steel News Bulletin