Hot rolled coil prices still on the way up in Iran

Tuesday, 24 August 2010 15:50:17 (GMT+3)   |  
       

Hot rolled coil (HRC) prices have continued their rising movement during the last two weeks in Iran. Currently, local traders who import HRC from CIS countries are offering CIS origin 2 mm HRC at about $645/mt ex-stock Anzali port (southern Iranian port on Caspian Sea), up about $15/mt from two weeks ago and up about $45-55/mt from four weeks ago. Higher thicknesses of HRC (3-12 mm), which are mostly supplied to the local market by main domestic flat steel producer Mobarakeh Steel, are now standing at prices of about $635-700/mt ex-works Esfahan, up from $635-680/mt two weeks ago and from $625-655/mt four weeks ago.

The current rising trend of HRC prices in the local Iranian market has been ongoing since the end of June this year. Most Iranian market players are expecting further price increases for HRC and other flat and long steel products in the domestic market in the coming days due to global circumstances, though some doubt that such a trend will be able to continue for more than a few weeks.

On Monday, August 23, Mobarakeh Steel sold about 115,000 mt of hot rolled coil to the local market through the Iran Mercantile Exchange (IME) at $580/mt with 60-day delivery - a price which is at the same level as Mobarakeh's previous supply to the market last week, but which is up by about $10/mt from its supply via the IME two weeks ago.
 
In the first four months of the current Iranian year (started March 21), Iran imported 762,000 mt of HRC, up about 18 percent compared to the volume of around 570,000 mt in the same period of the last Iranian year, according to the Iranian customs authorities. Iran imports its shortfall of hot rolled coil products from CIS countries, especially Russia, Ukraine and Kazakhstan.


Similar articles

UAE’s HRC market still sluggish, offers from India fall slightly

27 Mar | Flats and Slab

Import HRC prices in Vietnam retreat again due to slump in China

27 Mar | Flats and Slab

Vietnam’s Hoa Phat produces nine millionth mt of HRC

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

HRC consumption in Mexico up 30.6 percent in January

26 Mar | Steel News

Local HRC prices sink further in Turkey

26 Mar | Flats and Slab

Import HRC prices to Pakistan decline in new ex-China offers, other suppliers avoid discounts

26 Mar | Flats and Slab

Ex-India HRC prices soften slightly amid slow demand globally

26 Mar | Flats and Slab

Mood among Chinese HRC exporters worsens again after slight rise last week

26 Mar | Flats and Slab

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News