Billet
Billet prices was almost stable during last
week in Iran and fluctuated slightly from USD 665/mt to USD 663 /mt ex-work
including 9%. As DRI market was quiet, market players were expecting downward
trend in prices, but the resistance of ex-rate as well as activity in billet export
market with power outages prevented prices from falling.
Long
Products
Stability of billet market, made rebar
price also unchanged, while its production level has decreased, which is why
many mills have delays in delivery. Average rebar price started the week at USD
738/mt and ended it at USD 733/mt ex-work including VAT.
I-beam price was downward from USD 763/mt
to USD 744/mt ex-work including VAT. Market insiders believe that its price has
reached the peak and there is no more room for further increase.
Flat
Products
Mobarakeh Steel co 2 mm thickness HRC was USD 1113/mt on last Monday, which
reached USD 1108 /mt by Wednesday. The mill’s other HRC prices decreased
slightly despite the slowdown in supply level and limited demand.
Oxin co HRP was downward from USD 1282/mt to USD 1257/mt ex-work including
VAT due to lower demand level. Kavian co
HRP was stable at around USD 1118/mt as the mill controlled market trend.
CRC price was downward due to lower demand level from USD1347/mt to USD
1332/mt. HDG price improved a little from USD 1388/mt to USD 1390/mt as ex-rate
increased and zinc price rose during last week in Iran.
Weekly Analysis:
In the current
situation, Iran steel market is waiting for the new government administration.
Contradictory news is also heard about Nuclear Talks, which makes the market
more cautious. At the moment market players are trying to increase their
liquidity level as market sentiment is that with agreements in Nuclear Talks, currency
rate and then price of goods will decrease, so order levels have been reduced
to a minimum.
CBI
weekly average ex-rate for Steel Products (SANA): Rials 209,333 USD
28 Jun
2021