54362
Iran Steel Prices Hit Plateau as Forex Rates Rise
Economy, Business And Markets

Iran Steel Prices Hit Plateau as Forex Rates Rise

The rising trend in steel pricing in Iran stopped last week, with some prices slipping back as hard currency prices strengthened. Some local sellers tried to raise prices but weak demand stifled the attempt, Metal Bulletin reported.
In the free currency market, $1 fetched 37,300 rials on November 23, up by 200 rials week-on-week.
Billet in sizes from 125x125mm to 150x150mm traded last week at 14.40-14.85 million rials ($386-398) per ton ex-stock Tehran, down from 14.80-15.20 million rials ($397-408) per ton the week before.
CIS suppliers offered billet at $410-420 per ton cfr Iranian northern ports, up by $10 per ton week-on-week.
Khouzestan Steel, Iran’s principal supplier of semis, sold some batches of billet at 14.10 million rials ($378) per ton, on 57 days delivery, through the Iran Mercantile Exchange last week.
Local mills sold rebar at 17.40-18.00 million rials ($466-483) per ton ex-stock Tehran. This compared with 17.40-18.10 million rials ($466-485) per ton the week before.
Major supplier Esfahan Steel sold some batches of rebar through the IME this week at 16.50 million rials ($442) per ton ex-stock, on 60 days’ delivery.
Hot rolled coil (2-5mm) was sold at 22.10-23.00 million rials ($592-617) per ton ex-stock Tehran, compared with 22.40-23.10 million rials ($601-619) per ton the week before.
Mobarakeh Steel sold no hot rolled coil through the IME last week but it had sold some batches via that route at 16.54-17.34 million rials ($443-465) per ton ex-works, on 66 days’ delivery, the week before.

Short URL : https://goo.gl/3Gx4Hp
  1. https://goo.gl/5ZYWdK
  • https://goo.gl/eXpQWA
  • https://goo.gl/3QrfTL
  • https://goo.gl/bk1oCQ
  • https://goo.gl/dOw4ZW

You can also read ...

US Pressuring German Firms ‘Daily’ Over Iran Sanctions
Washington’s ambassador in Berlin has been pressuring German...
Iran and the Eurasian Economic Union signed a three-year provisional agreement on May 17 for the bloc to welcome Iran into the EEU Free Trade Zone.
The Eurasian Economic Commission Council approved the roadmap...
India in Touch With All Stakeholders on Iran Sanctions
Following fresh US sanctions on Iran over its nuclear program...
Crypto Trading Continues to Decline Since CBI Ban
Cryptocurrency transactions in Iran have significantly...
Google Defends Gmail Data Privacy Policy
Alphabet Inc’s Google gave details about its policies for...
Arrest Over Afghan Forex Smuggling
A man has been arrested for smuggling $38,000 from Afghanistan...
IRICA: Gold, Forex Imports Not Smuggling
The import of foreign currency does not amount to smuggling...
Copper Concentrate Output Sees 12% Growth
Major Iranian copper producers produced 488,859 tons of copper...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus