HRC 2mm thickness started week 50 with IRR 9,900,000 per tonne on truck in Anzali but market became downward by middle of the week. It was priced at IRR 19,200,000 per tonne at the end of the week.
Mobarakeh Steel prices didn't fluctuate so much, but there was almost no taker for its products.
HRC thickness 2.5mm to 3mm is faced with demand shortage in Pipe and Profile sections but also limited supply level. For thickness 10mm to 15mm, market has enough inventory level.
HRC from Oxin Steel mill had a volatile week. Traders were trying to sell their inventories so market trend became negative. Market participants were expecting prices to reach IRR 15,550 per tonne to IRR 15,570 per tonne but very slow delivery of the mill made market change again. Kavian Steel mill is not in the market at the moment, so if Oxin steel makes its deliveries more on time, it can manage the market.
CRC experienced a quiet market. Import level has dropped but prices were downward too.
As import level has dropped, CRC from import market would cost up to IRR 1,000,000 per tonne higher than Mobarakeh Steel mill but with lower quality than domestic market.
The problem of CRC market is low demand level in pipe and profile and white goods.
As a result despite 35% decline in supply level during last month, prices were downward too. Low demand has made HDG market downward too.
Source - www.irsteel.com
(www.steelguru.com)
