71137
Metal Bulletin’s price assessment for imported 2-mm HRC in Iran was $545-568 per ton CFR Iranian ports on Aug. 23.
Metal Bulletin’s price assessment for imported 2-mm HRC in Iran was $545-568 per ton CFR Iranian ports on Aug. 23.

Iranian Customers Resist Rise in HRC Import Prices

Iranian Customers Resist Rise in HRC Import Prices

Import prices for hot-rolled coil have continued to rise in Iran, as suppliers—which are now mainly Russian mills—have issued higher offers.
The growth has been driven by the general optimism in global markets, which was sparked by the increase in Chinese export prices.
However, Iranian customers and traders, which supply material to the region, did not share this optimism and preferred to take a wait-and see position, expecting a downward correction of prices in the near term, Metal Bulletin reported.
“We were about to book 5,000 tons [of HRC] at €450 [$530] per ton FOB Astrakhan, but then Magnitogorsk Iron & Steel Works [MMK] increased the price,” one trader said.
The estimated cost of freight for the 5,000-ton cargo from Astrakhan to the northern Iranian port of Anzali is around $15-16 per ton, sources said.
Recent offers of 2-mm HRC from MMK rose to €470-480 per ton FOB Astrakhan.
“The new price does not fit the Iran market. No one is buying, all deals are pending,” the trader added.
Market participants noted that, apart froms the rising prices, buying activity in Iran has been restricted by a 20% import duty.
Metal Bulletin’s price assessment for imported 2-mm HRC in Iran was $545-568 per ton CFR Iranian ports on August 23, widening from $555-562 per ton a week earlier.
The price assessment for imported cold-rolled coil in Iran narrowed upward slightly to $621-622 per ton CFR Iranian ports on Wednesday, against $615-622 per ton the week before. Recent offers of MMK-produced CRC were heard in Iran at €515 per ton FOB Astrakhan. This would be equivalent to $621-622 per ton CFR, considering the cost of freight to Anzali at $15-16 per ton.

 

 

Short URL : https://goo.gl/SqUGsd
  1. https://goo.gl/oToBe1
  • https://goo.gl/ES6vP1
  • https://goo.gl/mQcrda
  • https://goo.gl/JmeCLh
  • https://goo.gl/C9L4rt

You can also read ...

Audi Names New Leader After CEO Arrested
Audi has tapped its top sales executive to lead the company...
Islamic Bonds Worth $25m Issued for  Locomotive Manufacturing
Some 1.05 trillion rials ($25 million) worth of Islamic bonds...
Big Benefits of a German ‘Iran Bank’
Since US President Donald Trump pulled out of the nuclear...
Hyundai Elantra
After local media reported that the South Korean carmaker...
Structural Reforms in Banks  to Help Ensure Fiscal Stability
The second and final day of the Conference on Monetary and...
Easy-Open Can Lid Imports  at $22 Million
Close to 3,610 tons of aluminum easy-open can lids worth $22...
Kerman to Host 2 Int’l Mining Expos Next Week
The Sixth International Exhibition of Mining, Mineral...
Tehran Stock Exchange Benchmark Gains 13 Percent in Q1 - Report
Iran's financial markets had no shortage of drama in the first...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus