Average price of billet was USD 417/mt on last Saturday In Iran domestic
market, but reached USD 419 /mt ex-work including 9% VAT by Wednesday. This
increase was due to better exchange rate. Meanwhile more than 160,000 tons of billet
was offered at IME and about 47,000 tons of it was transacted, the rest had no
Previous week, the average price of billet sold at IME was USD 410 /mt,
which this week reached USD 388 /mt with the decrease of its base price at IME.
The minimum price of DRI was USD 234 /mt, which made buyers cautious. As demand
for long products has reached the bottom, billet production will naturally
decrease, especially in private sector.
By last Saturday,
rebar market had an average price of USD 509 /mt, which reached USD 496 /mt
ex-work including VAT by end of the week. Average price of rebar sold on IME,
which was not welcomed by buyers, dropped from USD 471 /mt to USD 439 /mt.
I-beam price, which
was USD 549 /mt for sizes 14 - 18 in Isfahan market on Saturday, decreased to USD
536 /mt by end of the week. While the average selling price of I-beam at IME last
week was USD 453 /mt, this week increased to USD 470/mt. I-beam size 14
supplied by Esfahan Steel co was significantly declined.
Many mills have
minimal production level, so few of them have a full basket of rebar ready for
delivery, and the rest say delivery time is between one week and ten days.
HRC 2 mm thickness
was USD 866 /mt ex-work Esfahan on last Saturday, which reached USD 854 /mt by end
of the week. In Ahwaz market, it declined from USD 794 /mt to USD 786 /mt. HRC thickness 3 -
15 mm was offered in Esfahan at USD 667/mt
, but reached USD 651 /mt by end of the
Oxin co HRP thickness 10-40 mm was traded at USD 657 /mt,
which dropped to USD 650 /mt ex-work including VAT till Wednesday, with this
price reduction, it is closer to the mill selling price. Kavian co HRP, despite
its supply limit, had a stable price with the controlling policy of the mill
and sizes 14-25 mm were traded at USD 580 /mt.
CRC market was
stable and the average for thicknesses 0.40 to 2.5 mm on Saturday was USD 1141 /mt,
which reached USD 1142 /mt by end of the week.
HDG price declined
from USD 1133/mt on Saturday to USD 1077/mt, due to lower HRC price.
weekly average ex-rate for Steel Products (SANA): Rials 251,826 1USD