Long products started the week with some declines then prices were improved again by end of the week. Average debar price size 14-32 mm declined to IRR 18.05 million per tonne ex work Ahwaz including VAT by beginning of the week and improved again to IRR 18.12 million per tonne at the end. Debar size 16 to 22 also experienced same trend and increased from IRR 18.3 million per tonne to IRR 18.4 million per tonne ex-work Esfahan including 8% VAT.
I-beam price declined by IRR 3.4 million per tonne by beginning of the week but market leaders made it improved again by middle of the week. As the market was not ready to accept improvements, prices were finally IRR 1 million per tonne lower than first prices of the week.
Price of merchant bars was almost stable due to their quiet market sentiment. Their inventory level is low but demand level also at the bottom, though price fluctuation is limited. Mills can’t reduce prices any more.
Source – Irsteel
Zhejiang Yaang Pipe Industry Co., Limited (www.nctv.net)