In the last three weeks, merchant bar prices in the Iranian domestic market have shown some decreases in general, following the rising trend which began in April this year. The rising trend and the price reduction which followed have caused both stockists and traders to abstain from placing large volume orders. Thus, while some buyers continue to make purchases to meet their urgent needs, others prefer to adopt a wait-and-see stance. The high inflation, the government's cutting of subsidies for energy and the devaluation of the Iranian rial can be indicated as the main factors which were boosting steel prices in the local Iranian market, while the withdrawal of buyers has caused some price reduction recently.
Iranian origin I-beam prices in Iranian domestic market
Size |
Price million rials/mt (04.07.2011) |
Price million rials/mt (28.06.2011) |
Price million rials/mt (21.06.2011) |
Price million rials/mt (14.06.2011) |
140 mm |
9.35 |
9.03 |
9.22 |
9.55 |
160 mm |
10.07 |
10.00 |
10.18 |
10.42 |
180 mm |
12.89 |
12.44 |
12.64 |
13.15 |
200 mm |
14.57 |
14.31 |
14.68 |
14.72 |
220 mm |
14.06 |
14.03 |
14.35 |
14.63 |
240 mm |
15.00 |
14.94 |
15.49 |
15.62 |
270 mm |
12.24 |
12.28 |
12.59 |
11.89 |
All prices are on ex-stock Tehran basis
Prices of most sizes of U-beam have been falling in the last few weeks in the local Iranian market. Prices of 80-160 mm U-beam (Iranian and Russian origin) are currently standing at about Rials 9.60-11.77 million/mt (about $900-1,110/mt) ex-stock Tehran, while prices were at Rial 9.70-12.00 million rials /mt (about $910-1,120/mt) last week and at Rials 9.84-13.70 million/mt ($920-1,280/mt) about four weeks ago. Local Iranian mills do not produce so much U-beam, and so the Iranian U-beam market is mainly fed by CIS suppliers.
Iranian origin equal angle sizes of 30 x 30 mm - 120 x 120 mm are currently priced at about Rials 9.10-10.32 million/mt (about $850-965/mt) ex-stock Tehran, compared to Rials 9.14-10.50 million/mt ($855-980/mt) last week and up from Rials 9.01-10.06 million/mt ($845-940/mt) about four weeks ago. The Iranian angles market is mostly supplied by local mills and competition among suppliers frequently push prices to rock bottom levels.
US$1 = Rial 10,700 (formal rate)
US$1 = Rial 11,900 (free market rate)