serajtoos:Billet market was almost quiet during last week in Iran. Size 150 mm started week 46 at USD 456.5/mt and size 125 mm was USD 452 /mt ex-work including 9% VAT. Limited supply level made prices rising by Sunday and by Monday peaked. Then sadness of long products market and mourning Holidays near made billet price stable.
Average price of billet size 150 mm finished the week at USD 460 /mt and size 125 mm at USD 456.5 /mt ex-work including 9% VAT.
At the moment DRI supply level is still limited and scrap supply level is still low. Billet production is almost the same as its demand and price would change with any movement in demand.
Debar market experienced severe fluctuations during last week in Iran. Average price of debar diameter 14-25 mm from Esfahan Steel co started the week at USD 554 /mt ex-work including VAT on last Saturday. Higher demand due to market closure for Arbaeen mourning Holiday made prices up to USD 557/mt. Average price of same cargo from Roohina Steel was USD 535 /mt on Saturday but finished the week at USD 532 /mt.
Average price of I-beam size 14,16,18 was USD 664/mt ex-work Esfahan including 9% VAT last Saturday and finished the week lower at USD 663 /mt. Market was quiet and demand level scarce. But market inventory level has dropped to bottom and supply-demand is balancing, therefore, any change in any side of demand or supply level would affect market trend.
Imported HRC 2 mm thickness started week 46 at USD 737 /mt on truck in Anzali including VAT and custom duty on Saturday. By Sunday onward prices became downward as by end of the week reached USD 725 /mt. Higher import level made prices downward. Thickness 2.5-15 mm in domestic market was offered by Mobarakeh Steel co at USD 609 /mt ex-work including 9% VAT and improved to USD 617 /mt by end of the week.
Oxin co HRP thickness higher than 10 mm was USD 560 /mt ex-work including 9% VAT by last Saturday. Till Tuesday market was quiet, by Wednesday sellers stopped offering and increased prices by around USD 29 /mt. Market insiders believe this price is not workable as market inventory is high and consumption level is limited. Kavian co HRP Rose by USD 10.5 /mt to USD 561.5/mt ex-work including 9% VAT which followed Oxin co upward trend.
CRC price was USD 790 /mt on truck in Anzali including 9% VAT and custom duty by beginning of last week. Market was quiet and prices downward. Consumption level is low but import level during first 20 days of current Iranian month ( 23 Oct-11 Nov) reached 38,000 tones, but all import level of previous month was 33123 tones. Besides, domestic supply is also high.
HDG price was USD 930.5 /mt ex-work including 9% VAT by start of the week then improved by USD 5 /mt despite enough market inventory and limited activity as ex-rate increased and Kashan co products prices were also improved.