Domestic billet prices in Iran moved up – Towards the beginning of last week, prices for 150*150 mm billet was at USD 534/MT (ex-works, including 9% VAT) and by the week end it climbed to USD 583/MT.
After KSC offered billet at a higher price in Iran Mercantile Exchange, retail billet market also moved up accordingly. Other supportive factors were – higher prices in global market and favorable exchange rates.
Iran flat steel prices in week 33 – HRC 2 mm thickness in beginning of last week stood at USD 751 /MT on truck in Anzali port including 9% VAT and custom duty. However lack of demand resulted in fall in prices to USD 733/MT by 23 Aug’17.
CRC market started week 33 with downward trend. This trend continued till Tuesday, then prices were up a little. Average price of import and domestic CRC thickness 0.40-2.5 mm was USD 832 /MT by end of the week which declined by USD 8 /mt during the week.
Iranian long steel market overview in week 33 – Domestic demand of long steel was low with less operational capacities of major steel mills. Towards the weekend prices declined by USD 8/MT.
~Inputs from IR Steel
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