serajtoos:Billet price improved by USD 10 /mt during last week in Iran domestic market as size 150 mm reached USD 456/mt and size 125 became USD 451 /mt ex-work including 9% VAT. Market insiders consider two reasons behind the upward trend including:
1-Limited supply level of DRI and scrap
2- Lower production level of billet due to lack of demand
Generally, some up and down fluctuations are expected in coming days for domestic billet market.
Long products were downward during week 45 in Iran. Average price of debar diameter 14-25 mm from Roohina Steel co dropped by USD 5 /mt to USD 524.5 /mt ex-work Dezfool including 9% VAT on Wednesday. Esfahan Steel co products price started the week at USD554 /mt , reached USD 549/mt on Tuesday and finally on Wednesday improved to USD 551 /mt ex-work including 9% VAT due to lower supply level.
I-beam size 14-18 experienced around USD 5 /mt decline to finish the week at USD 657/mt ex-work Esfahan including 9% VAT.
Generally, market was quiet as many participants left the market for Arbaeen Mournings. Prices would improve a little and become stable in coming days.
HRC 2 mm thickness improved by USD 4 /mt to USD 732 /mt on truck in Anzali including VAT and custom duty during last week in import market due to ex-rate changes and fewer suppliers.
Thickness 3-15 mm in domestic market was almost stable at around USD 612 /mt ex-work including 9% VAT. HRP thickness 15 mm or higher was downward for Kavian co products from USD 558/mt to USD 550 /mt ex-work including 9% VAT. Oxin co product also dropped but in limited margin from USD 565.5/mt to USD 559.5 /mt ex-work including 9% VAT.
CRC market was in upward mood but low market activity made it stable. Global prices have dropped around USD40 /mt during last 2 months which has been justified by ex-rate changes in Iran. Import prices are now near domestic offers, therefore import market is quiet at the moment and importers are worried about future.
HDG market was stable with supply level limited. Kashan origin HDG experienced around USD 5 /mt improvement during last week which may continue rising this week too.