Prices for both welded and seamless steel pipes have been coming down in the Iranian local market over the past month amid stagnant conditions. Local producers' domestic offers of Iranian seamless pipes have moved down by $30-35/mt over the past month, while Iranian traders have cut their offers by $65-90/mt. At the same time, Iranian mills have cut their welded pipe prices by around IRR 1.0-1.5 million ($16-50/mt), while local stockists' prices have moved down by $55-85/mt over the period under review. Market players think an improvement in demand is unlikely as the cold weather is coming. Lack of demand and the ongoing poor sentiment in the market may cause a further price softening in the steel pipe market in the coming period.
Current domestic prices for Iranian seamless pipes, 2"-4" grade B made to API 5L, are in the range of $800-830/mt ex-works. Iranian producers' current domestic prices for 6"-14" welded pipes with 2 mm wall thickness of grade B made to ASTM/API are at IRR 21.0-23.0 million/mt ($718-768/mt) ex-works.
Stockists' quotations of Iranian 1"-3" seamless pipes, grade B made to API 5L, are in the range of $750-815/mt ex-warehouse, compared to $840-880/mt ex-warehouse one month ago.
Local stockists' prices for welded pipes of 2"-3" size from Iranian producers are at about $750-795/mt ex-warehouse, compared to $835-850/mt ex-warehouse one month ago. Offers of 20 x 20 mm - 100 x 100 mm hollow sections ex-warehouse Tehran are on average at $530-540/mt ex-warehouse, $20/mt lower compared to one month ago.
$1 = IRR 30,024