Buying activity for seamless pipes remains slack in Iran due to the continuing dramatic currency fluctuations in the interbank market and international sanctions. Iranian customers are currently buying seamless pipes only to cover their immediate needs despite minimal inventories. Iranian traders have decreased their offers by $100-120/mt over the past month. Offers of seamless pipes from Ukraine have declined by a maximum of $10/mt, while quotations of Russian material have decreased by $50-100/mt. At the same time, import offers of Chinese material have increased by $30-50/mt over the same period. Meanwhile, there is no interest in import material from Iranian buyers in the current situation. The market outlook remains gloomy amid the political and economic instability in the country.
Local stockists' prices for domestic production seamless pipes of 1"-3" size are at about $1,470-1,900/mt ex-warehouse, down $100-120/mt over the past month, depending on sizes.
Import offers of Chinese seamless pipes, 2"-6" grade B made to ASTM A106/API 5L, are being given to the local Iranian market at $850-960/mt CFR Bandar Abbas.
Quotations of Ukrainian seamless pipes of 2"-8" size grade B as per ASTM A106 are at about $1,140-1,200/mt CFR Bandar Abbas for October-November production.
Russian pipes of 6"-8" grade B as per ASTM A106 are being offered to northern Iranian ports at $1,100-1,150/mt CFR from Tagmet, while 2"-3" pipes are quoted at around $1,300-1,350/mt CFR from Sinarsky Pipe Plant for delivery in December.