Cold rolled coil (CRC) prices have been rising in the local Iranian market in the last three weeks as the end of the current Iranian year (March 20) draws closer - a period when market activity traditionally increases. CIS suppliers were offering cold rolled coil at about $780-795/mt CFR Iranian northern ports last week, but have not offered any material during the current week due to the holiday in the CIS region. Currently, the local Iranian market is mostly supplied by main Iranian domestic flat steel producer Mobarakeh Steel and by other small local rolling mills.
Local Iranian rolling mills which produce CRC (excluding Mobarakeh Steel) as well as traders who import CRC (i.e., CIS origin) have this week been selling 0.5-1.25 mm CRC at about $895-940/mt ex-stock Tehran, up from $880-910/mt about three weeks ago and down from $910-930/mt about six weeks ago.
Local traders are at present offering cold rolled coils produced by Mobarakeh Steel at about $910-950/mt ex-stock Tehran, which is about $0-10/mt higher than the prices of three weeks ago. Mobarakeh Steel's cold rolled coil is usually about $10-20 /mt higher than CIS origin CRC or CRC from other local mills.
On February 28, Mobarakeh Steel Sold about 20,600 mt of cold rolled coil through the Iran Mercantile Exchange (IME) at about $800/mt ex-works with 80-day delivery and for payment in cash, which is about $13/mt higher than its previous supply via the IME in early February.