Rebar prices, like other long steel prices, have continued their upward movement in the local Iranian market. The Iranian rebar market was characterized by a rising trend before the recent New Year holidays (March 20-April 3). After the reopening of the market, following a delay of a few days the market again started to move up.
Iranian rolling mills and traders are offering 12-25 mm rebar at about $780-795/mt ex-stock Tehran for immediate delivery and cash payment, up from $770-780/mt about two weeks ago and up from $750-790/mt around five weeks ago.
Turkish origin rebar now stands at about $770-780/mt ex-stock Iranian southern ports, compared to from $750-780/mt about two weeks ago and up from $740-770/mt about five weeks ago. Ukrainian origin rebar is currently in a price range of $760-775/mt ex-stock Iranian southern ports, up from $750-760/mt two weeks ago and up from $730-740/mt about five weeks ago. Meanwhile, Egyptian origin rebar is in a price range of about $745-760/mt ex-stock Iranian southern ports, which is at the same level as two weeks ago and compares to $730-765/mt about five weeks ago.
Last week, Iranian mills in both the public and private sectors sold rebar through the Iran Mercantile Exchange (IME) at about $740/mt for cash payment and immediate delivery, not indicating any significant change compared to the previous few weeks.
US$1 = Rials 10,400