Flat Steel Import Prices Rise, But Demand Stays Low

EghtesadOnline: The prices for some flat steel products to be imported into Iran increased last week, while buying activity was slow because buyers wanted discounts.

News ID: ۷۷۹۶۶۳

08 October 2017

“The market is not active enough. The domestic price is less than the cost of imported goods,” a trader said.

Metal Bulletin’s price assessment for imported 2-mm hot-rolled coil in Iran was $583-595 per ton CFR Iranian ports on Oct. 4, compared with $565-605 per ton a week earlier.

A 5,000-ton cargo of HRC from ArcelorMittal Temirtau was booked at $501 per ton FOB. The estimated cost of freight from Temirtau to Anzali in northern Iran is $9 per ton, according to Financial Tribune.

Offers of HRC from ArcelorMittal Temirtau were $586 per ton FOB, equivalent to $595 per ton CFR. One buyer was bidding $530 per ton CFR, but could get no discount.

Russia’s MMK offered HRC at €480 ($565) per ton FOB. The estimated cost of freight from Russia to Iran is around $20 per ton.

Metal Bulletin’s price assessment for imported cold-rolled coil in Iran was $625-630 per ton CFR Iranian ports on Wednesday, rising from $620-625 per ton CFR.

Offers were heard at $630 per ton CFR.

ArcelorMittal Temirtau offered the product at $590 per ton FOB, one source said, after the price assessments were published.

The weekly price assessment for Iranian hot dipped galvanized coil imports was unchanged at $705-713 per ton CFR on Wednesday.

Offers from China were heard at $660 per ton FOB after the assessments were published. The cost of freight is around $25-30 per ton from China to Iran.

The European Union has decided to set fixed duties for hot-rolled coil imported from Iran, as well as HRC from Brazil, Russia and Ukraine, after a complaint by EU manufacturers that the product used for construction and machinery was being sold at excessively low prices.

The EU will levy anti-dumping tariffs of between €17.6 and €96.5 ($20.6-112.8) per ton from Saturday, the EU’s official journal said on Friday, Reuters reported on Friday.