Iranian domestic HRC prices

Over the past week, demand in the local Iranian hot rolled coil (HRC) market has remained weak as buyers’ inventories have been at high levels. However, despite the weakness of demand, prices have increased by $22.5/mt on average to $735/mt ex-warehouse, including nine percent VAT, as compared to the price level of $685/mt ex-warehouse reported on early last week, due to the strengthening of the US dollar against Iranian riyal.