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Currently, there is a 20% import duty imposed on HRC and cold-rolled coil brought into Iran, while hot dipped galvanized coil is subject to 26% duty.
Currently, there is a 20% import duty imposed on HRC and cold-rolled coil brought into Iran, while hot dipped galvanized coil is subject to 26% duty.

Iranian Demand for Imported Flat Steel Rises

Iranian Demand for Imported Flat Steel Rises

The downward trend in the global flat steel market has finally sparked interest in foreign material among Iranian customers and trading companies.
Chinese suppliers, under pressure from unfavorable conditions in their domestic market, have significantly reduced their export prices in recent weeks. This has affected other markets, notably in the Commonwealth of Independent States, forcing mills there to cut their export offers too.
The lower prices have attracted attention in the Iranian market, making imports profitable again despite the Middle Eastern country’s import duties, Metal Bulletin reported.

 Hot Rolled Coil
Kazakhstan’s ArcelorMittal Temirtau was heard offering 2 mm hot-rolled coil to Iran at $430 per ton FOB Aktau.
The estimated cost of freight to the Iranian northern port of Anzali is around $15 per ton.
Russia’s MMK offered HRC for shipment in June at €410-415 ($447-452) per ton FOB Astrakhan, depending on the material size. This was €20-25 ($22-25) per ton lower week-on-week.
The estimated cost of freight to Anzali for MMK material is around $20 per ton.
Rumors were circulating around the market about a booking done at the upper end of the price range. However, no details were available as of Wednesday.
Chinese HRC from traders was available at $435-455 per ton CFR southern ports of Iran, against $450-455 per ton last week.
Several traders were heard to be in negotiations to buy material at the lower end of the range.
“If domestic prices [in Iran] remain unchanged, imported flat products would be affordable again despite import duties,” one source said.
The recent HRC price in the Iranian domestic market was 19,855-19,965 rials per kg ex-works, which would be equivalent to $530-533 per ton ex-works, according to the exchange rate provided by Oanda.com.
Currently, there is a 20% import duty imposed on HRC and cold-rolled coil brought into Iran, while hot dipped galvanized coil is subject to 26% duty.
These duties were expected to be halved at the beginning of the current Iranian year, which fell on March 21. However, no decision on this has been announced yet by the Iranian government.
Metal Bulletin’s weekly assessment of import prices for 2 mm HRC in Iran widened to $435-472 per ton CFR Iranian ports on April 26, from $445-450 per ton CFR last week.
 Cold-Rolled Coil
Metal Bulletin’s price assessment of CRC imports in Iran dropped to $490-520 per ton CFR Iranian ports on Wednesday, from $520-554 per ton CFR last week.
Offers from China were heard at $490-495 per ton CFR southern ports of Iran.
MMK offered material at €460($500) per ton FOB Astrakhan, which would be equivalent to $520 per ton CFR Anzali.
CRC from ArcelorMittal Temirtau was available at $500 per ton FOB Aktau.
A small tonnage was heard booked by a trader within the assessed price range.

 Hot Dipped Galvanized Coil
Metal Bulletin’s price assessment for imported HDG in Iran was $540-545 per ton CFR Iranian ports on Wednesday, compared with $570-575 per ton CFR the previous week.
Offers from China were heard at $545-550 per ton CFR southern ports of Iran. Although no deals were heard concluded yet, sources said the workable price would be $540 per ton CFR.

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