Iranian merchant bar market indicates a recovery

The Iranian merchant bar market has been on a rising trend during the last three weeks, with the prices of most sizes of I-beam, U-beam and angles increasing during the period in question. Most buyers, especially those who involved with government projects, usually try to purchase their requirements before the end of the Iranian year (March 20) and this generally provides a boost for the local market ahead of the Iranian New Year holiday. 
 
Iranian origin 140-180 mm I-beam sizes are currently being transacted by local traders at $770-790/mt ex-stock Tehran, up from $747-760/mt about three weeks ago and up from $733-743/mt about five weeks ago. In the current week, 200 mm I-beam has been priced at $1,035/mt (+$70/mt), 220 mm has been priced at $894/mt (+$34/mt), 240 mm has been at $880/mt (+$10/mt) and the price of 270 mm I-beam has been standing at $995/mt (-$20/mt) - all prices are on ex-stock Tehran basis and have been compared to three weeks ago.
 
The prices of most sizes of U-beam have been rising in the last three weeks in the local Iranian market. 80-180 mm U-beam (Iranian and Russian origin) is now standing at about $825-935/mt ex-stock Tehran, up from $830-880/mt about three weeks ago and up from $895/mt seven weeks ago. Russian origin U-beams currently hold the largest market share in the Iranian U-beam market.
 
Iranian origin equal angle sizes (30 x 30 mm - 60 x 60 mm) are currently priced at about $815-865/mt ex-stock Tehran, up slightly from $810-860/mt about three weeks ago and also up from $800-850/mt five weeks ago. Larger angle sizes (80 x 80 mm - 120 x 120 mm) are priced at about $760-765/mt ex-stock Tehran, up from $730-790/mt about three weeks ago and up from $730-770/mt about five weeks ago. The Iranian angles market is mostly supplied by local mills, among which there is usually strong competition.
 
US$1 = Rials 10,400 (official rate)