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Iran steel market trend in week 37th – Flat products

Hot rolled coil 2 mm thickness was almost stable during last week in Iran. It was offered at IRR 20.2 million tonnes to IRR 20.3 million per tonnes on truck in Anzali including 8% VAT and IRR 19.9 million per tonnes to IRR 19.95 million per tonne at Imam Khomeini Port. There was a rumor about Chinese origin cargoes on the way to Iran which will decline prices when arrive.

CIS origin HRC 2 mm is USD 570 per MT cfr Northern ports, Chinese origin is USD 560 per MT and Korean one USD 600 per MT cfr Southern Ports. HRC price is downward globally specially in China, which will affect offer prices to Iran. Market participants expect Chinese HRC price decline by up to USD 20 per MT in coming weeks.

HRC thickness 2.5 mm to 6 mm was almost stable despite low supply level due to lack of demand. Imported HRP, 6-15 mm thickness was offered during last week in Iran. Domestic producers’ offers will increase too, so prices will be affected in coming weeks. Price of HRP with thickness more than 20 mm, dropped by IRR 100,000 per MT with market quiet sentiment.

In CRC market import offers increased but high ex-rate at exchange room didn’t let prices decline significantly. Domestic CRC is not available for some sizes, but prices didn’t change. In HDG market prices improved by IRR 100,000 per MT due to higher ex-rate but demand is still scarce.

Source – Irsteel

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