In the local Iranian market the most recent booking of hot rolled coil, 3-15 mm, has been completed at $620-660/mt ex-stock Tehran, up from $610-650/mt the week before and $590-640/mt two weeks ago. CIS origin 2 mm HRC is currently standing at a price level of about $570-580/mt ex-stock Tehran, which does not represent any significant change compared with last week while it has fallen about $10-15/mt compared with two weeks ago.
Most local traders attribute Mobarakeh's price increase to the global uptrend of steel prices in recent weeks and they are expected further increases in steel prices in the coming days. The price of most sizes of hot rolled coil have moved up during the last two weeks in the local Iranian market in line with the global price trends for flat steel products.
Iranian state-owned steelmaker Mobarakeh Steel hiked its price of hot rolled coil in its last supply via the Iran Mercantile Exchange (IME) on Monday, January 18, when it sold a total of 191,000 mt to the local market. On the day in question at the IME, Mobarakeh sold about 85,000 mt of 5-15 mm HRC at $555-562/mt ex-works with about 60-day delivery, representing an increase of $5-12/mt compared with the previous week. On the same day, the producer sold another batch of about 49,000 mt of 5-15 mm HRC, as well as about 57,000 mt of 2-4.99 mm HRC at $550/mt ex-works with 60-day delivery.