Import prices for hot rolled coil in the Iranian market have remained unchanged over the past week, Metal Bulletin learnt on Wednesday.
Metal Bulletin’s weekly price assessment for Iran’s imported HRC was stable at $505-510 per ton CFR Iranian ports.
Offers of Russia-origin ST-37 grade coils, used in pipe and profiles production, were within the range of €450-455 ($484-489) per ton FOB Astrakhan.
The estimated cost of freight to Iran from this port is around $20 per ton, depending on the shipment period, sources say.
Offers of ST-22 grade coils, used in galvanizing, were reported at €465 ($500) per ton FOB Astrakhan.
No new offers of Kazakhstan-origin HRC were reported in the market.
The latest offers heard by Metal Bulletin were around $535 per ton CFR Anzali.
Overall, the market remained quiet last week, with customers waiting for new import duty regulations to come into force.
“The current situation is really bad for importers. The local market is very weak,” a trader said, indicating a minimum $70 per ton difference between import and local prices.
“Those who booked HRC from anywhere in the past two months are now facing a loss,” he added.
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