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Iran steel market Trend in Week 10th , 2019

Billet

As expected, billet price became downward during week 10th in Iran. It’s average price dropped from USD 472/mt on Saturday to USD 454 /mt ex-work including 9% VAT for sizes 125 and 150 mm. A cargo of Khuzestan steel co billet was traded at USD 435 /mt base price excluding VAT, and size of 125 mm was traded at USD 404 /mt ex-work excluding VAT by a private factory, thus purchase thirst at IME dropped.

The most important reasons behind downward trend were falling exchange rates, falling demand from re-rollers and Lower long products prices. Approaching the end of the year has led billet manufacturer to try to deliver goods faster. The time limit for carriage of goods has accelerated this trend. Regardless of this, downward trend of China's demand and its competition with Iranian exports products should not be ignored.

 

Long Products

Long products were downward during last week in Iran as demand declined more. As price had peaked during previous weeks, higher debar prices at IME made market manipulators stayed back.

But I-beam price had a good demand at IME due to low base price but average price of sizes 14,16,18 dropped from USD 523/mt to USD 512.5/mt.  Angle and channel also experienced the same trend. Generally, market leaders tried last week to use the current market situation the best and it was their last chance as in coming days they will be faced with downward market expectation.

 

Flat Products

HRC 2 mm thickness from Mobarakeh Steel co started the week at USD 642/mt ex-work  Esfahan including 9% VAT and ex-work Ahwaz price was USD 614 /mt. By end of the week prices were respectively USD 621/mt and USD 588/mt ex-work including 9% VAT.

Average price for thickness 3-15 mm also dropped from USD 677/mt to USD 643/mt ex-work including 9% VAT. Demand is low and delivery of cargoes purchased at IME has begun from Mobarakeh Steel co.

Oxin co HRP thickness 20 mm or higher was available in the market and its average price dropped from USD 606/mt to USD 592/mt ex-work including 9% VAT. Demand is low and current supply level satisfy market demand but slab price has risen and lower plate price seems unlikely. Available HRP has been produced with slab at base price of USD 320/mt but new production would be with slab of USD 428/mt ex-work excluding VAT.

CRC price dropped which is likely to intensify in coming days due to lower demand. Average price on Saturday was USD 826/mt ex-work including 9% VAT, which reached USD 810/mt by end of the week, while its supply is totally weak.

HDG was also downward like other products from USD 1031/mt to USD 1012 /mt ex-work including 9% VAT.

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CBI weekly average ex-rate for Steel Products (SANA): Rials 89,624/ 1USD

11 Mar, 2019

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Iran Steel News Bulletin

 

Mar 11, 2019 14:38
Number of visit : 851

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