Local traders push up heavy plate prices in Iran

The prices of heavy plates, just like the prices of other flat and long steel products, have been rising steadily in the local Iranian market in the past few months. Iranian origin St37 grade heavy plates of 10-40 mm thickness from local traders are already at $730-760/mt ex-works Ahwaz (southwest Iran), up from $665-705/mt about two weeks ago and up from $600-620/mt about five weeks ago. Kavian Steel and Khouzestan Oxin Steel, the two main local producers of heavy plates, both closed their sales a few days ago due to the perceived instability of market prices. 
 
Russian and Ukrainian origin grade St52 heavy plate of 10-50 mm thickness from local traders are currently standing at about $1,000-1,040/mt ex-stock Tehran, up from $930-945/mt about two weeks ago and up from $860-920/mt around five weeks ago. CIS origin A516 grade 10-50 mm heavy plate is now in a price range of $1,100-1,120/mt ex-stock Tehran, up from $1,040-1,050/mt two weeks ago and increasing from $960-950/mt about five weeks ago.
 
Levels of competition are not so strong in the Iranian heavy plate market as there are just two main local suppliers of heavy plate as well as some traders involved in importation of this steel product. Furthermore, given the soaring trend of plate prices in the last few months, traders are taking greater liberties in pricing their products, with prices of some items of heavy plate thus appearing to exceed reasonable price levels at present.