Iran domestic billet price witnessed a downfall of around USD 4 W-o-W in week 48. Market opened at around USD 455/MT in Saturday. This price is including VAT of 9%. Price went down to USD 453/MT in Sunday and further went down to USD 452/MT on Monday.
On Wednesday, prices went to lowest in the week to USD 449/MT, however on Thursday price was noted around USD 451/MT.
As per market sources, the demand for billet is not so high considering KSC offered its billet at around 445-446/MT in IME, forcing IF billet makers to bring down their offers. On other hand Scrap is still at high levels and IF billet makers margin has further got down.
Some market insiders expect DRI price rise in coming weeks, which may affect billet and long products price too.
The margin between scrap and billet decreased from USD 106/MT to around 98-99/MT. whereas on other hand, margin between billet and rebar was around USD 63-65/MT in current week.
Government has decreased the import duty of Billet from 15% to 5%, whereas import duty on HRC has been decreased from 20% to 10%.
| Commodities | 25/11/2017 | 26/11/2017 | 27/11/2017 | 28/11/2017 | 29/11/2017 | 30/11/2017 |
| Scrap | 349 | 349 | 351 | 352 | 353 | 353 |
| Billet | 455 | 453 | 452 | 452 | 449 | 451 |
| Rebar | 517 | 516 | 516 | 515 | 514 | 514 |
| Difference between Slab-Billet | 106 | 104 | 101 | 99 | 96 | 99 |
| Difference between Billet-Rebar | 62 | 64 | 64 | 63 | 65 | 63 |
Source: Planner
Price in USD
Inputs taken from Planner & IFNAA
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