Business activity in the Iranian welded pipe market remains sluggish amid low demand from consuming sectors against the backdrop of the unstable political and economic situation in the country. In such conditions, Iranian mills have reduced prices by around $20-25/mt over the past month in order to attract buyers. However, Iranian buyers still prefer to refrain from purchases and are keeping their inventories low until the market trend becomes clearer.
Iranian producers' current domestic prices for 6"-8" welded pipes with 2 mm wall thickness of grade B made to ASTM/API are at $660-685/mt (IRR 19,500-20,300/mt) ex-works, while quotations of 10"-14" pipes are at about $685-720/mt (IRR 20,300-21,300/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 $670-700/mt CFR, compared to $680-720/mt CFR one month ago.
$1 = IRR 29.7 market exchange rate
$1 = IRR 24.8 official exchange rate