Price of hot rolled coil 2 mm thickness dropped by IRR 400,000 metric tonne to IRR 19.6 million per metric tonne on truck in Anzali including 8% VAT during week 53rd.
Supply level increased as import parcels arrived in during 2 week ago were stocked due to low activity in the market for religious holidays. But New Year Holidays in supplier countries will help downward trend in Iran stop for a while.
Lack of demand and higher supply level from Mobarakeh Steel Co made HRC 2.5-6 mm thickness price downward. HRP market also experienced around IRR 100,000 per metric tonne decline in price. Oxin co was not offering and Kavian Co supply level was limited, but higher import offers will lead to more price declines.
CRC market was heavily quiet and prices dropped around IRR 500,000 per metric tonne. Higher competition due to more domestic supply and increasing import offers in northern ports stocked from previous weeks affect market sadness. Some market participants expect downward trend in CRC market continues. But some rumors about stopping allocation of currency from exchange room for importing CRC in near future made some participants more optimistic about future.
HDG market was also downward as CRC market price is declining and demand level is low.
Source – Irsteel
Zhejiang Yaang Pipe Industry Co., Limited