Billet price was upward during last week in Iran domestic market from USD 542 /mt to USD 551/mt ex-work including 9% VAT

Billet

Billet price was upward during last week in Iran domestic market from USD 542 /mt to USD 551/mt ex-work including 9% VAT. Main reasons for the price increase was higher base price at IME ( Iran Mercantile Exchange), upward global prices and market's expectation that export volume would increase. However, most of the billet offered on IME was not sold.


Long Products

Rebar price improved slightly due to its higher base price on IME, from USD 584/mt to USD 602 /mt ex-work including VAT by end of the week. However, just less than half of the rebar offered at IME was sold. After IME transactions were closed, rebars that had been bought cheaper during previous weeks entered the market and made it quiet.

Just higher prices at IME made I-beam prices upward and there was no interest in buying at new levels at IME. Market price improved from USD 607 /mt to USD 612/mt ex-work including VAT.


Flat Products

Mobarakeh Steel co HRC 2 mm thickness was USD 961/mt on last Saturday, which reached USD 979 /mt by end of the week. Other HRC items rose slightly until Monday, but the market was almost balanced from Tuesday onward.

As expected, Oxin Co HRP upward trend continued from USD 1141/mt to USD 1169/mt. The most important reason for this price increase was higher slab price and increase in export level. Many traders worried about this price increase, became absent. Kavian co HRP also became upward due to higher slab price and Oxin co HRP uptrend, from USD 907/mt to USD 948 /mt. The price gap between this product and Oxin co HRP has reached 20%, which has increased demand for Kavian co product.

CRC price did not fluctuates significantly by beginning of last week, but due to rising prices on IME, market was upward by Tuesday, but calmed down on Wednesday again. Its price changed from USD 1185 /mt to USD 1215 /mt. HDG price trend fluctuated following the Mobarakeh Steel co HRC trend but its change was very small.


CBI weekly average ex-rate for Steel Products (SANA): Rials 229.831 USD

26 Apr 2021