There has not been any halt to the rising trend in merchant bar prices in the local Iranian market during the last few weeks. Prices have almost been rising on a daily basis, with market participants sure that they will gain some profit if they sell tomorrow whatever they buy today. The uptrend in global semi-finished steel prices (especially prices of billet) during the last few weeks has been providing support for merchant bar prices. Iranian market players are looking forward to further price increases in the coming weeks, although there is a strong fear that the risk factor in the market will increase if prices rise very rapidly.
Iranian origin 140-180 mm I-beam sizes are currently being transacted by local traders at $730-755/mt ex-stock Tehran, up from $705-720/mt two weeks ago and also up from $675-700/mt four weeks ago. 200 mm I-beam is now priced at $1,110/mt (+$55/mt), 220 mm is priced at $880/mt (+$30/mt), 240 mm is priced at $837/mt (+$37/mt) and the price of 270 mm I-beam stands at $820/mt (-$2/mt) - all prices are on ex-stock Tehran basis and have been compared with two weeks ago.
U-beam prices have been rising steadily during the last two weeks in the local Iranian market, just like prices for other long steel products. 80-180 mm U-beam sizes (Russian origin) currently stand at about $790-825/mt ex-stock Tehran, compared to about $765-770/mt two weeks ago and to about $750-770/mt four weeks ago.The majority of Iranian market demand for U-beam is supplied by the CIS and China.
The Iranian angles market has also experienced some significant rises during the last two weeks. Iranian origin angles of 30 x 30 mm - 120 x 120 mm size are now priced at $760-815/mt ex-stock Tehran, up from $730-780/mt two weeks ago and up from $670-775/mt four weeks ago. Local Iranian re-rollers are able to supply most market demand for angles, and so Iran does not import much of this product.