Iranian customers continued to give preference to domestic material and coils imported earlier at lower prices.
Offers of new imports of hot rolled coil from Russia remained unchanged over the week at $500-505 per ton CFR Anzali.
Market sources noted, however, that the low number of offers seemed to indicate that suppliers were seeking other outlets for their material, according to Financial Tribune.
“I have heard that nowadays a lot of Russian HRC is being offered to Asia,” an international trader told Metal Bulletin.
Metal Bulletin’s weekly price assessment for Iranian imported 2 mm HRC remained unchanged on Wednesday at $500-505 per ton CFR Iranian ports.
The assessment for imported cold rolled coil also remained unchanged within the range of $570-575 per ton CFR Iranian ports, with offers from CIS suppliers within the given range.
However, sources also reported offers of Chinese CRC at $610 per ton CFR southern ports.
“Importers are adopting a wait-and-see policy at the moment, as domestic prices remain attractive,” one trader said.
Metal Bulletin’s weekly price assessment for Iranian imported 1 mm hot dipped galvanized coil soared to $789-790 per ton CFR Iranian ports.
An offer of India-origin coil was made at $790 per ton CFR southern ports late last week.
“Supply and demand levels are both in shortage now,” one market source said.