Demand in the local Iranian hot rolled coil (HRC) market has remained at low levels during the past week. Following the upward trend seen in domestic HRC prices in Iran at the beginning of last week, HRC quotations started to move down at the end of the week due to the oversupply in the Iranian market. Currently, domestic HRC prices in the market are at IRR 18.4-20 million/mt ($524-570/mt) ex-warehouse, including nine percent VAT.
$1 = IRR 35,100