Iran one of the largest billet producer has witnessed stability in domestic billet prices during last couple of weeks. Iranian Rial depreciated marginally against USD, IRR against 1 USD was noted to be around 44,840 on 8th of Mar’18.
During Week 10 of 2018 (03-03 till 08-03’18), Iran domestic billet price opened at IRR 22,090/KG (USD 493/MT). Prices remained constant on next day, On Monday prices were noted to be around IRR 22,220/KG (USD 496/MT). During the mid-week, prices were noted to be around IRR 22,270/KG (USD 497/MT). However towards the end of week prices slide down to IRR 21,950/KG (USD 490/MT).
As per Planner “It is the second last week of current Persian year (21 Mar’17-20 Mar’18) and the market is really calm. No significant rise and fall is seen in the market. Traders have stopped restocking and ceased trade”
During the week 10, scrap was traded at IRR 17,310/KG (USD 386/MT) to IRR 17,390/KG (USD 388/MT) and Rebar was traded at IRR 24,600/KG (USD 549/MT) to IRR 24,690/KG (USD 551/MT)
The average difference between scrap and billet was noted to be around IRR 4,910 – 5,420/KG (USD 110-120/MT). On parallel lines difference between billet and rebar was noted to be around IRR 1,980-2560/KG (USD 44-58/MT).
| Commodities | 3/3/2018 | 4/3/2018 | 5/3/2018 | 6/3/2018 | 7/3/2018 | 8/3/2018 |
| Scrap | 17,310 | 17,320 | 17,380 | 17,390 | 17,380 | 17,380 |
| Billet | 22,090 | 22,090 | 22,220 | 22,270 | 22,250 | 21,950 |
| Rebar | 24,670 | 24,640 | 24,660 | 24,690 | 24,600 | 24,610 |
| Difference between Scrap-Billet | 4,780 | 4,770 | 4,840 | 4,880 | 4,870 | 4,570 |
| Difference between Billet-Rebar | 2,580 | 2,550 | 2,440 | 2,420 | 2,350 | 2,660 |
Prices in IRR/KG
Source: Planner
1 USD = IRR 44,840
Leave a Reply