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Iran steel market Trend in Week 46th , 2020

Iran steel market Trend in Week 46th   , 2020

Billet

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 buyer.

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.

Long Products

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.

Flat Products

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 week.

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.

CBI weekly average ex-rate for Steel Products (SANA): Rials 251,826 1USD

16 Nov 2020

Nov 16, 2020 15:57
Number of visit : 546

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