Over the past two weeks, prices in the local Iranian hot rolled coil (HRC) market have increased by $30/mt on the lower end to $715-735/mt ex-warehouse, including nine percent VAT, since the anticipated declines in import HRC prices in the country have not been seen. Accordingly, the upward trend of domestic HRC prices in Iran is not related to any recovery of demand.
Meanwhile, domestic cold rolled coil (CRC) prices in Iran are at $790-800/mt ex-warehouse, including nine percent VAT.