Steel Prices Dip Despite Recovery in Construction Sector
Steel prices in Iran dipped slightly over the past week, despite signs of a pick-up in construction activity.
Local mills in Iran sold rebar this week at 15.60-15.90 million rials ($439-448) per ton ex-stock Tehran.
“It is a buyer’s market now in Iran,” Metal Bulletin, a UK-based specialist international publisher and information provider for the global steel, non-ferrous and scrap metals markets, quoted an unidentified local trader as saying. “We have better demand now [than in the spring], due to an increase in activity in the construction sector, but [it’s] far from a booming market.”
Billet in sizes from 125x125mm to 150x150mm traded this week at 13.00-13.50 million rials ($366-380) per ton ex-stock Tehran, down from 13.20-13.60 million rials ($372-383) per ton last week.
CIS suppliers were offering billet at $340-350 per ton cfr Iranian northern ports, down $5 per ton over the week.
Local mills in Iran sold rebar this week at 15.60-15.90 million rials ($439-448) per ton ex-stock Tehran, slightly higher at the top end of the range from last week’s 15.60-16.10 million rials ($439-453) per ton.
The country’s leading supplier of rebar, Esfahan Steel, sold rebar through the IME (Iran Mercantile Exchange) at 14.00-14.30 million rials ($394-403) per ton ex-stock.
And 2-5mm gauge hot rolled coil (HRC) was sold at 18.20-19.40 million rials ($512-546) per ton ex-stock Tehran, down from 18.30-19.60 million rials ($515-552) per ton last week.
Mobarakeh Steel Company sold HRC through the IME this week at 15.45-15.65 million rials ($435-440) per ton ex-works.
source: Financial Tribune
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years