Downtrend Continues in Iranian Domestic Billet Offers

Downtrend in Iranian domestic billet market still continue, resulting to downfall of domestic billet offers. There is less demand of finished steel as construction industry is down owing to US sanctions.

Steel manufacturers are receiving limited enquires from the buyers which has affected export offers as well. Iranian billet export offers has further come down to USD 390-395/MT from around USD 400-405/MT FoB Iran.

As per SteelMint’s assessment, domestic billet offers during the beginning of week 50 (08 Dec-13 Dec’18) was noted to be around IRR 31,690/KG (USD 755/MT). On next day, offers decreased further to IRR 30,660/KG (USD 730/MT). During the mid-week, offers went down to IRR 29,600/KG (USD 705/MT). Towards the end of week billet offers dropper further by USD 50/MT, in domestic market offers were noted to be around IRR 27,380/KG (USD 652/MT).

According to Planner Iran, “The recession is dominant in Iran market. IRR is still strengthening and the prices are adjusted downward. But still buyers are not so much interested in buying.”

IR Steel quoted, “Actually market participants are waiting for Khouzestan Steel co new offer price, therefore, DRI offer at IME ( Iran Mercantile Exchange) at base price of USD 378 /MT ex-work excluding 9% VAT had no buyer. Based on current price of billet, DRI price should be lower than USD 309 /MT. If current rumors about new price of USD 681 /MT for Khouzestan Steel co billet becomes true, DRI price would drop to around USD 286 /MT.”

Domestic Scrap and Rebar Offers Witness Downfall

Domestic scrap offers during week 50 were noted to be around IRR 23,990- 27,540/KG (USD 571-565/MT). Scrap offers fall almost by 15% W-o-W against USD 673/MT noted in last week. On parallel line, rebar domestic offers were down in week 50. As per SteelMint’s assessment domestic rebar offers were noted to be around IRR 34,830- 38,360/KG (USD 829-913/MT)

News No: 3028
Date: 2018/12/21 - 14:30
News Source: SteelMint

Iranian Domestic Billet  Khouzestan Steel co  Steel  DRI  Iran Mercantile Exchange 


Leave a Comment:


Kashan Amir Kabir Steel Co. joined the five companies in the Iranian Superior Knowledge Organization

Me-Metals – In the seventh ceremony of the world prize of the Asian Superior Knowledge Organization and after the evaluation by the international experts of the MAKE world prize, Kashan Amir Kabir Steel Co. succeeded to join the country’s Superior Knowledge Organization and became one of the reputable brands in the world.

Crude steel Output Rises 13% in 10 Months/Steel Products Exports Up 102%

Iran’s steel products and crude steel production in the first ten-month of the current Iranian year (March21,2018- Jan20,2019), registering a 7% and 13% growth respectively YOY.

India: Chrome Ore Production Rises Substantially in Jan’19

Odisha contributes almost entirely towards chrome ore production in India. Chrome Ore Production in Jan’19 was noted to be 601,338MT . It is about 76% higher as compared to the previous month viz., Dec’18.

Pakistan Govt Likely to Increase Electricity Tariff - Sources

As per industry sources report to SteelMint, Pakistan’s Government has indicated a hike in electricity tariffs by upto around 25% over the next few months period.

Indian Domestic HRC Trades Slow down; Automobile Sales Disappoint

This week Indian HRC prices witnessed slight increase in traders market after announcement of sharp price hike by INR 1000-1500/MT by major Indian steel mills last week for March deliveries.However dull trades restricted surge in prices in trade segment this week.

Iran: Domestic Billet Offer Rises Over Limited Supply

Iran domestic billet offers reportedly increased last week over the limited supply and increase in demand from the re-rollers. During last week, the billet offers almost reached USD 500/MT.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners