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Iran steel market Trend in Week 45th , 2020

Iran steel market Trend in Week 45th   , 2020

Billet

Average price of billet in Iran domestic market on last Saturday was USD 413/mt ex-work including 9% VAT and reached USD 430/mt by last Monday, while the market was in ambiguity of supply-demand level at IME ( Iran Mercantile Exchange) , which the base price was priced higher than a week ago with no buyer in the market. On Wednesday, higher ex-rate helped billet market and the price rose to USD 443 /mt. The latest base price of DRI has been heard at USD 226/mt, while most DRI producers are not interested in new pellet contracts for converting to DRI.

Long Products

Rebar average price on last Saturday was USD 485 /mt and the market was waiting for the announcement of its base price at IME, while demand level was very limited. On Monday, due to sale of billet at its base price at IME, resistance of rebar price was evident in the market, and finally reached USD 500 /mt by Wednesday due to higher ex-rate.

I-beams sizes 14,16 and 18, which were sold at an average of USD 524 /mt on Saturday in Isfahan, reached USD 537 /mt by end of the week. Market was very cautious and demand level was limited.

Flat Products

HRC 2 mm thickness was USD 838 /mt ex-work Isfahan on last Saturday and reached USD 881 /mt by Wednesday. Its price in Ahwaz market also increased from USD 762 /mt on Saturday to USD 804/mt by Wednesday. The average price of HRC 3 to 15 mm thickness, which was USD 617 /mt on Saturday, increased to USD 661/mt ex-work including VAT by end of the week.

Oxin co HRP was priced at USD 626/mt on Saturday, but reached USD 634/mt by week-end. Oxin Co HRP supply level is not significant and sellers are not willing to give a discount.

Kavian Co HRP had a strong market. Sizes 15- 25 mm, which were traded at USD 560 /mt on last Saturday, reached USD 568 /mt ex-work including VAT by  end of the week.

CRC, which was traded at an average of USD 1138 /mt by beginning of the week, increased to USD 1156/mt until Wednesday.

HDG was priced at USD 1096/mt on Saturday and reached USD 1150 /mt by end of the week due higher currency rate.

CBI weekly average ex-rate for Steel Products (SANA): Rials 261.151 1USD

09 Nov 2020

Nov 9, 2020 15:35
Number of visit : 561

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