Iranians Avoid hot rolled coil Imports
Iranians Avoid hot rolled coil Imports

Iranians Avoid hot rolled coil Imports

Iranians Avoid hot rolled coil Imports

Demand for imported hot rolled coils in Iran remained sluggish, as buyers still preferred locally-produced material, which is available at more attractive prices vis-a-vis the import duty. 
At the same time, domestic customers of cold rolled coils showed interest in buying from abroad, given the demand of some industries.
Prices for HRC offered by Russian steelmaker Magnitogorsk Iron & Steel Works, otherwise known as MMK, for April shipment to Iran are currently ranging within €435-445/ton FOB Astrakhan ($473-484/ton CFR Anzali). The supplier’s offers lost around €5-10/ton ($16-22/ton) since early February. 
“Interest in buying HRC from Russia was minimal over the last month, so offer prices softened a bit recently,” an Iranian trader told Metal Expert. 
However, the information about some deals from Russia at the lower end of the range was circulating in the market.
ArcelorMittal Temirtau was heard to sell around 6,000 tons of HRC for March shipment at $460/tons FOB Aktau (about $468/ton CFR Anzali) throughout the week. One of the pipe manufacturers chose to close a deal with the Kazakh supplier, being in need to restock.
Besides, South Korean HR coils for April shipment are available at $540/ton CFR southern ports, $10/ton below the previous levels. However, the discounts still failed to draw buyers’ attention. 
“For about three months, price level from Korea as well as China is not workable in Iran,” a source said. 
While commercial segment reveals slack demand for Korea’s HRC, some information about sizable booking of the re-rolling grade material, done by Mobarakeh Steel Company, is being discussed in the market.
In the CRC segment, a small lot (around 1,000 tons) of Kazakh material in port was booked at $530/ton FOB Aktau (about $538/ton CFR Anzali) this week. At the same time, no fresh offers from Russia’s MMK were heard in the market.
The activity on Iran Mercantile Exchange was quite strong over the last two weeks. In particular, MSC sold 98,951 tons of HRC, 13,262 tons of CRC and 4,717 tons of HDG over the reported period.

Short URL : https://goo.gl/Bkrul7
  1. https://goo.gl/TV0EsX
  • https://goo.gl/yxSxZS
  • https://goo.gl/pJ9SKH
  • https://goo.gl/ZVDFLa
  • https://goo.gl/VZbcQe

You can also read ...

Pretoria Hosts South Africa-Iran Business Forum (Photo: AfricaNewsAgency)
The South Africa-Iran Business Forum was held in Pretoria,...
The health deal was signed in Iran’s Embassy in London on Oct. 23.
Iran’s Ministry of Health signed an investment and cooperation...
2 Iranian Rating Firms Licensed
Securities and Exchange Organization of Iran, the country's...
The fiscal 2014-15 was the worst year for the construction sector in recent memory, with growth rate reaching its nadir at -17%.
The research arm of the Iranian Parliament has forecast a...
Renault Launches Used-Car Sales Scheme in Iran
Negin Khodro, the local official importer of Renault cars, has...
Mellat Insurance’s office in Tehran
Mellat Insurance, affiliated with Bank Mellat, announced that...
Bushehr Port accounts for more than half of Iran’s maritime trade.
More than 19.6 million tons of non-oil products worth close to...
Swarovski Partners With Iranian Firm
Iranian leather and accessory manufacturing company Dorsa...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.