Hot rolled coil (
HRC) prices have accelerated their rising trend during the last few weeks in
Iran, maintaining the upward movement which started when the Iranian market returned from its New Year holiday in early April. Foreign suppliers of
HRC, mainly from the CIS, have raised their prices, now offering
HRC at about $750-760/mt CFR Iranian northern ports, compared to levels of $700-715/mt CFR Iranian northern about three to four weeks ago.
Local Iranian traders who import
HRC from CIS countries are offering CIS origin 2 mm
HRC at about $790-800/mt ex-stock Anzali port (Iranian port, southern Caspian Sea) for immediate delivery and cash payment, up from $730-735/mt about three weeks ago and up from $720-725/mt about five weeks ago.
Higher sizes of
HRC, i.e., 3-12 mm produced by main domestic flat steel supplier
Mobarakeh Steel, are now standing at prices of about $770-855/mt ex-works Esfahan, up from $735-790/mt about three weeks ago and up from $745-760/mt five weeks ago.
On May 30, state-owned
Mobarakeh Steel sold about 44,000 mt of hot rolled coil to the local market via the
Iran Mercantile Exchange (IME) at about Rials 6.50-6.72 million/mt (about $615-640/mt) ex-works with 50-80 day delivery.
Mobarakeh had been selling
HRC via the IME at Rials 6.50-6.65 million/mt about two to three weeks ago.
US$1 = Rials 10,600 (formal rate)