The Iranian welded pipe market has remained quiet against the current background of political uncertainty and slower construction activity during Ramadan. Meanwhile, most Iranian welded pipe producers have left their domestic prices unchanged over the past month, though prices in the US dollar terms have declined by $10-15/mt due to currency fluctuations. Most market players prefer to adopt a wait-and-see stance until the month of Ramadan comes to an end and the new Iranian president enters office. Buying activity in the Iranian welded pipe market is expected to improve only towards autumn.
Iranian producers' current domestic prices for 6"-8" welded pipes with 2 mm wall thickness of grade B made to ASTM/API are at $635-650/mt (IRR 20,000-20,500/mt) ex-works, while quotations of 10"-14" pipes are at about $670-680/mt (IRR 21,000-21,500/mt) ex-works. Prices are exclusive of five percent VAT.
Chinese welded pipes, 2"-6" grade B made to ASTM A53/API 5L, are currently being offered to the Iranian market at $700-730/mt CFR, compared to $680-710/mt CFR one month ago. However, Iranian buyers show no interest in concluding bookings.
$1 = IRR 31.5 interbank exchange rate
$1 = IRR 24.7 official exchange rate