Billet market was stable week 47 in Iran, Market opened at around USD 452/MT on Saturday. Price remained stable on Sunday on account of national holiday in Iran.
Towards the mid-week Price went up by USD 2/MT and by end of week the price further went up to USD 455/MT.
Prices were almost stable with a minor up and downs of 1-2% W-o-W.
As per market sources, the market is witnessing recession, demand has come down. Big manufactures are focusing more on export owing to better realization of IRR against USD.
The margin between scrap and billet was almost around USD 107-109/MT. whereas on other hand, margin between billet and rebar was around USD 63-66. Prices of billet might increase if the scrap continues to hike.
| Commodities | 18/11/2017 | 19/11/2017 | 20/11/2017 | 21/11/2017 | 22/11/2017 | 23/11/2017 |
| Scrap | 343 | 343 | 345 | 347 | 347 | 347 |
| Billet | 452 | 452 | 452 | 454 | 455 | 455 |
| Rebar | 518 | 518 | 519 | 518 | 518 | 518 |
| Difference between Slab-Billet | 109 | 109 | 107 | 107 | 108 | 108 |
| Difference between Billet-Rebar | 66 | 66 | 67 | 64 | 63 | 63 |
Source: Planner
USD – 40,100 IRR
On other hand KSC has sold around 15,000 MT in IME at around USD 445-446/MT for late Dec’17 delivery. Also around 17,000 MT was sold by the company in IME at around USD 436-437/MT for late Jan’18 delivery.
Inputs taken from Planner
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