Activity in the Iranian welded pipe market is quiet amid exchange rate volatility and the unstable political situation in the country. Iranian buyers have adopted a wait-and-see approach in the current uncertain market conditions. Most Iranian welded pipe producers have left their domestic prices almost unchanged over the past month, while prices in US dollar terms have increased by $50-55/mt due to the weakness of the Iranian currency. Most market players expect the welded pipe market in Iran to be stable in the coming period as mills' are resisting any softening of prices.
Iranian producers' current domestic prices for 6"-14" welded pipes of grade B made to ASTM are at $715-750/mt (IRR 20,950-21,975/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 $700-740/mt CFR, compared to $700-750/mt CFR one month ago. At present, Iranian buyers are still interested in import material.
$1 = IRR 29.3 interbank exchange rate
$1 = IRR 24.6 official exchange rate