Hot rolled coil thickness 2 mm experienced around IRR 1,000,000 per tonne to IRR 1,100,000 per tonne increase in price to reach IRR 18,900,000 per tonne to IRR 19,000,000 per tonne on truck in Anzali including 5% VAT. Mobarake steel mill supply level is limited at the moment but depression of demand has led to limited transactions levels.
For HRC thickness 15 mm or higher import level is limited so prices were stable despite low demand. Oxin Steel Mill was successful to take market share with price of IRR 14,500,000 per tonne to IRR 14,900,000 per tonne. Some market participants are waiting for higher prices due to limited import level but others think that demand depression don't let prices rise which seems to be a correct expectation.
CRC price was upward like other steel products during last week and increased by IRR 400,000 per tonne but due to low supply level and higher ex rate not better demand level. HDG market improved and prices were up by IRR 200,000 per tonne to IRR 300,000 per tonne for some sizes but demand level was almost scarce. If ex rate drops, CRC and HDG price will decline too.
