Metals News: As a result of an improvement in flat steel demand, especially for thicker material, prices are increasing steadily on both the Iran Mercantile Exchange and the off-exchange market, S&P Global Platts learned from IME and market sources.

Some 88,000 mt of sheet produced by Mobarakeh Steel Company was traded on the IME on Tuesday, indicating a strong level of demand. Different sizes of MSC-produced hot rolled coil traded at Rial 16.54 million-17.34 million/mt ($456-$479/mt), which is about 6% more than last week's trade levels. CRC traded at Riyal 20.87 million/mt, a 10% increase week on week. MSC is the only supplier of flats that is working with its full capacity, a market participant said. The latest price for imported HRC with thickness of 2 mm was reported as Riyal 20.02 million/mt in the southern ports of Iran and Riyal 20.08 million/mt for CIS-produced material delivered in Anzali, northern Iran, which is about 7% more than last week. Prices are expected to rise further since the exchange rate of the Iranian currency has decreased in recent days, a local market specialist said. Mahmoud Akbari, deputy head of sales at MSC, said in October that the company's priority is to supply material needed by Iran's downstream manufacturers, and export is of secondary importance. However, the country's demand for thin strips probably would be more than MSC's capacity, so import volumes are likely to rise despite the 20% import duty. As reported by Platts previously, some 201,000 mt of carbon steel flat products were imported by Iran in the sixth month of the current Iranian year (to 21 September 2016), a 22% month-on-month increase.

 

  • Latest News
  • Most Popular

 


 

Hot events

  • Iran Alloy Steel Company; the Pioneer of Production

    Iran Alloy Steel Company is the first producer of alloy steel in Iran. This company posse one of the most equipped and modern plants in alloy steel production business and is capable of exporting its products to many developed countries such as Europe. Mohammad Ebrahim Ghadirian, CEO of the company…
    read more...
  • Foulad Nab Tabriz; Pioneer of Iran’s Steel Industry

    Foulad Nab Tabriz Company as a pioneer of the steel industry in the private sector was established in 2003 by Iranian-Turkish joint venture in the city of Tabriz in order to benefit from economic and industrial potentials of both countries. Preparation and foundation operations started in the beginning of 2004…
    read more...
  • Automobile with Iranian Galvanized Roll

    Galvanized roll has a lot of usage in different industries due to unique properties and also high resistance against corrosion. One of the largest consumers of this roll is automotive industry. In this regard, a factory for production of galvanized roll for coachbuilding has been built in Sefid Dasht region,…
    read more...
  • Iran Alumina Company Plan for 40 Years Activity

    Iran Alumina Company as the first producer of three strategic products "metal grade alumina", "aluminum hydroxide" and "alpha alumina" in the Middle East is active in Jajarm region in North Khorasan province activities and with the goal to complete the value chain in the region, have implemented the plan for…
    read more...
  • Foulad Nab Tabriz, a Pattern for Iranian-Turkish Joint Investments

    Foulad Nab Tabtiz has been establish by Iranian and Turkish partners and has an excellent track record in supplying Iranian domestic market demand for steel profiles in its ten years of successful production. Çetin Kaya the head of iron and steel division of NAB Holding, the Turkish partner, believes that…
    read more...

Featured photos and videos

cache/resized/aa7d917e71928f6a9ae69309a14eb771.jpg
Metalsnews: Tehran Stock Exchange’s main index
cache/resized/f7bd3787264080d9f828ea1e37767d36.jpg
Metalsnews: HRC 2 mm thickness was USD 632/mt on
cache/resized/9f5a39817150ca6b13ba8fce8d9a7293.jpg
Metalsnews: Debar price was downward in Iran last
cache/resized/475bfb901212d0e67c24d635a5cda6cb.jpg
Metalsnews: Billet was downward during last week
cache/resized/09fd58b1711d14553d6a6f629ff81b22.jpg
Metalsnews: HRC 2 mm thickness was offered at USD
cache/resized/6b5e88a8c966eadd3d8e5ec244b48024.jpg
Metalsnews: Debar diameter 14-25 mm were offered
cache/resized/2a4dc3e8234ef34d103a4a5ab702c332.jpg
Metalsnews: Billet price started first week of
cache/resized/9fbb0027b1ff28e6cb538a97c9b1b9e2.jpg
Metalsnews: Iranian steelmakers produced 30
Template Settings

Color

For each color, the params below will give default values
Black Blue Brow Green Cyan

Body

Background Color
Text Color
Layout Style
Select menu
Google Font
Body Font-size
Body Font-family