There was a booking of 20,000 tons of hot-rolled coil from Russia’s Magnitogorsk Iron & Steel Works, otherwise known as MMK, reported at €470 ($559) per ton FOB, Metal Bulletin reported.
This was at a discount from HRC offers from MMK, heard at €485-490 per ton FOB. This price range would be equivalent to $597-603 per ton CFR.
The cost of freight from Russia to Iran is about $20 per ton, Financial Tribune reported.
Metal Bulletin’s price assessment for imported 2-mm HRC in Iran was $579-597 per ton CFR Iranian ports on September 6, up from $575-584 per ton a week earlier.
The price assessment for imported cold-rolled coil in Iran was $630-635 per ton CFR Iranian ports on Wednesday, against $620-633 per ton last week.
Russia-origin CRC was available in the country at $610-615 per ton FOB Astrakhan.
Considering the estimated cost of freight to the destination of $20 per ton, this would be equivalent to $630-635 per ton CFR.
No new price was heard for hot dipped galvanized coil imports into Iran last week and the weekly price assessment remained unchanged at $665-670 per ton CFR on Wednesday.