Iran, one of the largest producer of billet has witnessed stability in domestic billet price W-o-W. Iranian Rials appreciated against USD has made the market stable, last week 1 USD was traded at IRR 142,000.
As per SteelMint’s assessment, during the beginning of week 42 (13 Oct- 18 Oct’18) billet was traded at around IRR 36,650/KG (USD 873/MT). On Sunday, the domestic billet prices were noted to be around IRR 38,310/KG (USD 912/MT). During the mid-week the prices went down and were traded at around IRR 36,030 – 37,090/KG (USD 858-883/MT). Towards the end of the week domestic billet price around IRR 36,430/KG (USD 867/MT).
According to Planner “the market is stable now since the USD has been stable since last week. So, we do not suppose a big leap or fall in the coming weeks.”
IFNAA quoted “Billet buyers at the moment in Iran are mostly mills and traders are not at IME any more. Long products market is depressed which has made billet buyers quiet too. Buyers at IME are worried and confused about future.”
| Commodities | 13/10/2018 | 14/10/2018 | 15/10/2018 | 16/10/2018 | 17/10/2018 | 18/10/2018 |
| Scrap | 30,970 | 30,010 | 29,950 | 30,250 | 30,560 | 30,020 |
| Billet | 36,650 | 38,310 | 36,030 | 37,090 | 36,430 | 36,430 |
| Rebar | 44,620 | 46,680 | 44,260 | 44,660 | 44,700 | 44,540 |
| Difference between Scrap-Billet | 5,680 | 8,300 | 6,080 | 6,840 | 5,870 | 6,410 |
| Difference between Billet-Rebar | 7,970 | 8,370 | 8,230 | 7,570 | 8,270 | 8,110 |
Unit – IRR/KG
Source: Planner
Major Steel Makers Sold Billet at IME
Khouzastan Steel Company sold 19,000 MT in IME on 15 Oct’18 at IRR 31,531/KG (USD 750/MT) against the demand of 22,000 MT. Khorasan Steel Company sold 24,000 MT billet in IME on 17 Oct’18 at IRR 31,531/KG (USD 750/MT).
Leave a Reply