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Iran steel market Trend in Week 02nd , 2021

Iran steel market Trend in Week 02nd       , 2021

Billet

Billet price was upward due to the increase in its base price at IME ( Iran Mercantile Exchange), which was formed thanks to export market trend. Its average price rose from USD 417/mt on Saturday to USD 469 /mt ex-work including VAT. 

Based on DRI and scrap price and current transportation costs, billet cost price lower than USD 478 /mt would not be affordable for producers. More than 170,000 tons of billets were offered on IME, but less than 18,000 tons was sold. This is a good situation for exporters and a great concern for those who are just in the domestic market.

Long Products

Rebar price rose slowly during last week due to higher base price at IME, but with no buying interest at IME, market turned back. Average price rose from USD 524/mt to USD 540 /mt, then dropped back to USD 535/mt ex-work including VAT. 251,000 tons of rebar was offered at IME and just 1620 tons was sold.

I-beam market also experienced this trend. 30,000 tons was offered at IME, but the total product sold was 2,300 tons. Its average price improved till Tuesday from USD549 /mt to USD 558 /mt, then declined to USD 541 /mt.

Flat Products

HRC 2 mm thickness was priced at USD 877/mt on last Saturday, which reached USD 897 /mt by end of the week. Other sizes had an upward trend due to limited supply of Mobarakeh Steel co.

 Oxin co HRP was faced with a price increase mainly due to limited supply level from USD 736/mt to USD 766/mt.

Kavian co HRP had an upward trend too, from USD 696 /mt to USD 723/mt.

CRC market was relatively stable, Mobarakeh Steel co has confused the consumers with offering different qualities, but consumption level remained almost constant, while high price level has reduced its demand.

HDG price had an upward trend, which was affected by higher HRC price, while demand level is still weak.

CBI weekly average ex-rate for Steel Products (SANA): Rials 250,769 USD

18 Jan 2021

 

Jan 18, 2021 18:29
Number of visit : 1,170

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