Activity remains slow in Iranian welded pipe market ahead of Ramadan

Activity in the welded pipe market in Iran has remained slow over the past three weeks as buyers try to avoid stocking up before Ramadan, starting on June 29. Iranian pipe producers have managed to keep their domestic prices at previous levels, but demand has remained limited amid a seasonal drop in buying activity. Market participants think any improvement in the Iranian market for welded pipes is unlikely in the near future.
 
Iranian producers' current domestic prices for 6"-14" welded pipes with 2 mm wall thickness of grade B made to ASTM/API are at $860-930/mt (IRR 22,000-23,800/mt ) ex-works. Prices are exclusive of five percent VAT.
 
Chinese welded pipes, 2"-8" grade B made to ASTM A53/API 5L, are currently being offered to the Iranian market at $650-670/mt CFR, almost unchanged compared to one month ago.
 
$1 = IRR 32.8 market exchange rate
$1 = IRR 25.59 official exchange rate