Flat Steel Import Prices Rise, But Demand Stays Low

The prices for some flat steel products to be imported into Iran increased last week, while buying activity was slow because buyers wanted discounts.

“The market is not active enough. The domestic price is less than the cost of imported goods,” a trader said.

Metal Bulletin’s price assessment for imported 2-mm hot-rolled coil in Iran was $583-595 per ton CFR Iranian ports on Oct. 4, compared with $565-605 per ton a week earlier.

A 5,000-ton cargo of HRC from ArcelorMittal Temirtau was booked at $501 per ton FOB. The estimated cost of freight from Temirtau to Anzali in northern Iran is $9 per ton.

Offers of HRC from ArcelorMittal Temirtau were $586 per ton FOB, equivalent to $595 per ton CFR. One buyer was bidding $530 per ton CFR, but could get no discount.

Russia’s MMK offered HRC at €480 ($565) per ton FOB. The estimated cost of freight from Russia to Iran is around $20 per ton.

Metal Bulletin’s price assessment for imported cold-rolled coil in Iran was $625-630 per ton CFR Iranian ports on Wednesday, rising from $620-625 per ton CFR.

Offers were heard at $630 per ton CFR.

ArcelorMittal Temirtau offered the product at $590 per ton FOB, one source said, after the price assessments were published.

The weekly price assessment for Iranian hot dipped galvanized coil imports was unchanged at $705-713 per ton CFR on Wednesday.

Offers from China were heard at $660 per ton FOB after the assessments were published. The cost of freight is around $25-30 per ton from China to Iran.

The European Union has decided to set fixed duties for hot-rolled coil imported from Iran, as well as HRC from Brazil, Russia and Ukraine, after a complaint by EU manufacturers that the product used for construction and machinery was being sold at excessively low prices.

The EU will levy anti-dumping tariffs of between €17.6 and €96.5 ($20.6-112.8) per ton from Saturday, the EU’s official journal said on Friday, Reuters reported on Friday.

source: Financial Tribune