The major factor behind the halt in purchasing was the high prices for foreign materials, compared with those for domestic products.
Metal Bulletin’s weekly price assessment for Iranian imported hot rolled coil remained unchanged within the range of $505-510 per ton CFR Iranian ports.
Offers of Russia-origin ST-37 grade coils, used in the production of pipes and profiles, were heard within the range of €450-455 ($483-488) per ton FOB Astrakhan, according to Financial Tribune.
The estimated cost of freight does not exceed €20 ($21) per ton, sources said.
Offers from Russian mills of ST-22 grade coils, used in galvanizing, were reported at €465 ($499) per ton FOB Astrakhan for shipment in March.
Meanwhile, an offer of Russia-origin material from a trader was heard last week at €445 ($478) per ton FOB Astrakhan, ready in port.
However, none of these offers has attracted customers’ attention. HRC prices in the domestic Iranian market were around $560 per ton EXW, while the minimum import HRC price, including 20% import duty and 9% VAT, would be $645 per ton ex-stock.
Metal Bulletin’s price assessment for Iranian imported cold rolled coil was $570-575 per ton CFR Iranian ports, against $560-570 per ton CFR a week earlier.
Offers of CIS-origin material were heard within that price range.