The Iranian merchant bar market has been showing signs of a recovery during the last two weeks despite the general stagnation in the domestic steel market. Prices of most sizes of I-beam, U-beam and angles have improved during the last two weeks. The Iranian steel market usually sees increased activity in the last weeks of the Iranian year which ends on March 20. Most buyers, especially those involved in governmental projects, usually try to purchase supplies before the end of the year, due to anticipations of price increases in the New Year.
Iranian origin 140-180 mm I-beam sizes are currently being transacted by local traders at $747-760/mt ex-stock Tehran, up from 733-743/mt about two weeks ago, up from $740-760/mt four weeks ago, and at the same level as six to eight weeks ago. In the current week, 200 mm I-beam has been priced at $965/mt (+$45/mt), 220 mm has been priced at $860/mt (+$27/mt), 240 mm has been at $870/mt (+$45/mt) and the price of 270 mm I-beam has been standing at $1,015/mt (-$40/mt) - all prices are on ex-stock Tehran basis and have been compared to two weeks ago.
Prices of most sizes of U-beam have been stable in the last two weeks in the local Iranian market. 80-180 mm U-beam (Russian origin) are now standing at about $830-880/mt ex-stock Tehran, which is at the same level as two weeks ago but down from $895/mt four weeks ago, and up from $820-855/mt about six weeks ago. Chinese U-beams, which had a large market share previously in Iran, are not so at present .
Iranian origin equal angle sizes (30 x 30 mm - 60x 60 mm) are currently priced at about $810-860/mt ex-stock Tehran, compared to a price range of $800-850/mt two weeks ago and $830-870/mt about four weeks ago. Larger angle sizes (80 x 80 mm - 120 x 120 mm) are priced at about $730-790/mt ex-stock Tehran, compared to $730-770/mt about two weeks ago. The Iranian angles market is mostly supplied by local mills. Strong competition among these mills can exert a braking effect on rising price tendencies in the market.