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Iran Steel Market Trend in Week 35th , 2023

Iran Steel Market Trend in Week 35th  , 2023

Billet

Billet price was almost stable during last week in Iran domestic market. Despite shortage, low demand decreased market competition. Its average price changed from USD 586/mt to around USD 588/mt ex-work including VAT.

 

Long Products

Rebar market was quiet and its price was around USD 660/mt ex-work including VAT.

Lack of demand made I-beam price down from USD 710/mty to USD 691/mt ex-work including VAT by end of the week.

 

Flat Products

HRC 2 mm thickness was USD 893 /mt ex-work Mobarakeh on Saturday, which reached USD 876/mt by Wednesday. Limited demand made HRC market downward.

HRP price has reached the bottom, maybe it will improve in the next month. Oxin co HRP average price changed from USD 842/mt to USD 845/mt by end of the week.

CRC price increased in the first half of the week, but supply of imported cargoes does not allow the market to grow. Its price changed from USD 1135/mt to USD 1138/mt during the week.

Absence of big suppliers changed price of some sizes of HDG during last week in domestic market. Its average price improved from USD 1107/mt to USD 1115/mt.

 

Weekly Analysis:

In the world market:

Global markets are still standing and no serious change has been seen. Scrap price has remained constant and possible decline seems unlikely. Despite weak demand, production cost has reached the bottom and a serious reduction is unlikely unless China control its economic problem.

 

In the domestic market:

Practically nothing will happen in the domestic market within coming days and week due to religious Holidays affecting market activity. But power shortage issue at mills is expected to return to normal from the middle of September. In this case, from next week, billet price will have a downward trend, considering that billet price is the basis for all steel products, it would affect  other prices too.  But DRI demand will increase and this will limit billet price fluctuations at IME. In any case, we cannot expect much from the market  within next weeks as there are many holidays and demand side is also confused.

 

CBI average ex-rate for Steel Products (SANA): Rials 371,945 / 1USD

04 Sep  2023

M.Chitsaz

Iran Steel News Bulletin

IFNAA.IR

IRSTEEL.COM

 

 

Sep 4, 2023 12:44
Number of visit : 320

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