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Metal Bulletin’s price assessment for imported 2-mm HRC in Iran was $575-585 per ton CFR Iranian ports on Oct. 11.
Metal Bulletin’s price assessment for imported 2-mm HRC in Iran was $575-585 per ton CFR Iranian ports on Oct. 11.

Import HRC Prices Cool Down But Demand Remains Slack

Import HRC Prices Cool Down But Demand Remains Slack

Iran’s import prices for hot-rolled coil cooled down over the week that ended on Oct. 11, in line with the downtrend in the major global markets.

Metal Bulletin’s price assessment for imported 2-mm HRC in Iran was $575-585 per ton CFR Iranian ports on October 11, compared with $583-595 per ton a week earlier.

The assessment reflected recent offers of Russia-origin material reported at €465-475 ($548-560) per ton FOB Astrakhan, against €480 per ton FOB heard last week.

The estimated cost of freight to the Iranian northern port of Anzali is currently around $25 per ton.

The price decrease for the imported material, however, has not spurred much interest among Iranian buyers, with domestic prices remaining attractive. In addition, 2-mm HRC is subject to 20% import duty in Iran.

Recent offers of 2-mm HRC from local Iranian producer Mobarakeh Steel Company have been heard at 27,600 rials per kg, or $832 per ton, including 9% VAT.

“None of my customers requested offers from [Russian steelmaker] Magnitogorsk Iron & Steel Works [MMK] or ArcelorMittal Temirtau [of Kazakhstan],” one trader said. “Most are purchasing locally.”

Metal Bulletin’s price assessment for imported 0.5-1.25-mm cold-rolled coil in Iran was $625-632 per ton CFR Iranian ports on Wednesday, largely unchanged over the week.

MMK offered CRC at €515 ($607) per ton FOB Astrakhan.

Some offers of non-prime 0.7-mm CRC from ArcelorMittal Temirtau were heard at $580 per ton FOB Aktau. Therefore, it was not included in the assessment range.

The estimated cost of freight from Kazakhstan to Anzali is currently around $16 per ton, sources said.

The assessment for imported 0.5-1.25-mm hot dipped galvanized coil in Iran dropped to $666-680 per ton CFR, against the previous range of $705-713 per ton CFR, in line with offers.

Kazakhstan-origin coils of 0.5-mm thickness were reportedly available at $650 per ton FOB Aktau, or $666 per ton CFR Anzali, according to one source.

Chinese 1-mm coil was offered at prices as high as $680 per ton CFR southern ports of Iran.

 

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