Tuesday, 22 Feb 2011
Billet price has reached the bottom in Iran market. Market participants are waiting to see weather it would rise in near future or not. As many mills have just 2 more working weeks for the current Iranian Year, though they prefer to decrease production. Meanwhile, long products demand is so scarce and market future sentiment is so ambiguous.
Freeze prices at TME and expectation of some price falls in coming Iranian Year has made any future forecast worthless.
During last Iranian month around 410.000 tonnes of billet had been imported to Iran together with 2 month ago imported tonnages it would be more than 2 million tones. Beside this higher supply, shortage of demand is obvious. Accordingly any price increase till first months of the Iranian New Year is unlikely.
In domestic market, 150 mm billet was dropped by USD 15 per tonne compared to a week ago and priced at USD 630 per tonne and USD 600 per tonne on truck in Anzali and Imam Khomeini ports respectively including 3% VAT. In the import market, CIS origin billet was offered at USD 650 per tonne CFR Anzali but no transaction has been reported.
Freeze prices at TME and expectation of some price falls in coming Iranian Year has made any future forecast worthless.
During last Iranian month around 410.000 tonnes of billet had been imported to Iran together with 2 month ago imported tonnages it would be more than 2 million tones. Beside this higher supply, shortage of demand is obvious. Accordingly any price increase till first months of the Iranian New Year is unlikely.
In domestic market, 150 mm billet was dropped by USD 15 per tonne compared to a week ago and priced at USD 630 per tonne and USD 600 per tonne on truck in Anzali and Imam Khomeini ports respectively including 3% VAT. In the import market, CIS origin billet was offered at USD 650 per tonne CFR Anzali but no transaction has been reported.
(Sourced from www.irsteel.com)
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