Iran's rebar market has reopened for business after the two-week Iranian New Year holiday (March 20-April 2). The market was a on rising trend before the holiday, but it is not yet clear whether this upward trend will continue in the coming days.
Iranian rolling mills and traders are offering 12-25 mm rebar at about $770-780/mt ex-stock Tehran for immediate delivery and cash payment, up from $750-790/mt about three weeks ago and up from $760-775/mt about five weeks ago.
Turkish origin rebar now stands at about $750-780/mt ex-stock Iranian southern ports, up from $740-770/mt about three weeks ago and up from $720-745/mt about eight weeks ago. Ukrainian origin rebar is currently in a price range of $750-760/mt ex-stock Iranian southern ports, up from $730-740/mt about three weeks ago. Meanwhile, Egyptian origin rebar is currently in a price range of about $745-760/mt ex-stock Iranian southern ports, up from $730-765/mt about three weeks ago.
Iranian mills (from both public and private sectors) have not yet resumed sales of rebar through the Iran Mercantile Exchange (IME) after the New Year holiday. The mills were selling rebar via the IME at $730-740/mt for cash payment and delivery of 1.5 to three months in the middle of March.