Iran Flat Steel Import Prices Rise on Higher Russian Offers

The prices of imported flat steel in Iran continued to increase over the week that ended on Wednesday, as deals and offers were reported at higher prices.

here 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.

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.

source: Financial Tribune