Rebar prices have been relatively stable in the local Iranian market in the last two weeks, coming after the rapid rising trend seen from the second half of August. High demand for construction materials in summer- especially for steel and cement - was one of the main factors responsible for boosting prices in the last few months while high inflation in Iran was also another major factor.
At present, local traders in Iran are offering 12-25 mm rebar at about Rial 9.40-9.55 million/mt ($875-889/mt) ex-stock Tehran, including VAT, for immediate delivery and cash payment.
Rebar prices in Iranian domestic market
Sizes |
Price million rials/mt (12.09.2011) |
Price million rials/mt (19.09.2011) |
Price million rials/mt (26.09.2011) |
Price million rials/mt (03.04.2011) |
12-25 mm |
9.25-9.45 ($861-880/mt) |
9.35-9.55 ($871-889/mt) |
9.35-9.55 ($871-889/mt) |
9.40-9.55 ($875-889/mt) |
On October 2, Iranian rolling mills sold some baches of 12-25 mm rebar via the Iran Mercantile Exchange (IME) at about Rial 8.40-8.75million/mt ($782-815/mt) ex-works for 50 to 90-day delivery, compared to Rial 8.40-8.50 million/mt ($782-791/mt) two weeks ago and Rial 8.30-8.50 million/mt ($773-791/mt) four weeks ago.
$1 = Rial 10,740 (official rate)