Merchant bar prices in Iran have accelerated their rising trend during the last two weeks, continuing the upward movement which started in April this year. The increased strength of foreign currencies as well as high inflation can be indicated as the two factors which exerted the greatest impact on the Iranian steel market recently. The rising trend in the domestic merchant bar market has even encouraged some traders to return to the market, and this may help to boost transaction volumes to some extent. While market demand still lacks strength, most traders are optimistic that demand will see some recovery during the summer.
Iranian origin I-beam prices:
140 mm = $854/mt (+$54/mt)
160 mm = $890/mt (+$85/mt)
180 mm = $1,066/mt (+$216/mt)
200 mm = $1,290/mt(+$70/mt)
220 mm = $1,510/mt (+$480/mt)
240 mm = $1,120/mt (+$200/mt)
270 mm = $975/mt (+$60/mt)
All prices are on ex-stock Tehran basis and have been compared to four weeks ago.
Prices of most sizes of U-beam have been rising in the last few weeks in the local Iranian market. 80-160 mm U-beam (Iranian and Russian origin) are now standing at about $920-1,280/mt ex-stock Tehran, compared to $940-960/mt about four weeks ago and up from $860-950/mt about six 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 $845-940/mt ex-stock Tehran, up from $800-860/mt about four weeks ago and up from $765-870/mt six weeks ago. The Iranian angles market is mostly supplied by local mills, among which strong competition prevail.
US$1 = Rial 10,500 (formal rate)