Ahead of the new Iranian year which will begin on March 21, imported hot rolled coil (HRC) prices in the Iranian market have slightly softened by about IRR 100-120/kg ($8-10/mt) as compared to last week.
Accordingly, 2 mm x 1,000-1,250 mm HRC produced by Russian steel producers Magnitogorsk Iron and Steel Works (MMK) and Novolipetsk Steel (NLMK) are being offered at the Iranian northern port of Bandar Anzali at IRR 10,600/kg ($865/mt) ex-yard loaded truck, exclusive of four percent VAT.
$1 = IRR 12,260 (official rate)