| News | ||
| Flat products trend in Iranian market in week 29 - 29 Jul, 2010 | ||
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Last week, 2.00 mm hot rolled coil was up by USD 30 per tonnes to USD 620 per tonne FOT Iranian northern port including 3% VAT, comparing to a week ago. Limited import level and very low stocks are main factors of this upward trend. But pipe and profile producers have not started strong buying yet and only by higher demand of the sector, HRC price would improve in real sense. Latest offer price of the material was USD 570 per tonne CFR Iranian northern port at Caspian Sea and import is not cost effective yet for Iranian traders. CRC is in shortage of supply especially for 0.60 mm to 0.90 mm thick. CIS producers have stopped offering from 10 days ago and this situation would continue till first days of August. Hot rolled plate was up around USD 20 per tonne comparing with a week ago and HDG around USD 10 per tonne to USD 20 per tonne. Mobarakeh Steel mill didn’t change its prices at Iran Mercantile Exchange last week except for HRC which rose around USD 7 per tonne. It’s not cost effective to buy the material from Mercantile Exchange, as market price is lower than cost price of Tehran Mercantile Exchange sales. This week flat products market would be silent in Iran because of holiday sentiment of the market. By increasing price of 2 mm HRC, traders would start selling to destock inventories, also imported CIS origin HRC would be available in near future in Iran, so a falling trend in prices is expected due to increasing supply. IF Mobarakeh Steel mill doesn’t change its policies, maybe the possible falling trend would be for a short term. Otherwise, due to falling demand, down ward trend of flat products prices would continue till autumn. (Sourced from www.irsteel.com) | ||
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