In the free currency market, $1 fetched 37,300 rials on November 23, up by 200 rials week-on-week.
Billet in sizes from 125x125mm to 150x150mm traded last week at 14.40-14.85 million rials ($386-398) per ton ex-stock Tehran, down from 14.80-15.20 million rials ($397-408) per ton the week before.
CIS suppliers offered billet at $410-420 per ton cfr Iranian northern ports, up by $10 per ton week-on-week.
Khouzestan Steel, Iran’s principal supplier of semis, sold some batches of billet at 14.10 million rials ($378) per ton, on 57 days delivery, through the Iran Mercantile Exchange last week.
Local mills sold rebar at 17.40-18.00 million rials ($466-483) per ton ex-stock Tehran. This compared with 17.40-18.10 million rials ($466-485) per ton the week before.
Major supplier Esfahan Steel sold some batches of rebar through the IME this week at 16.50 million rials ($442) per ton ex-stock, on 60 days’ delivery.
Hot rolled coil (2-5mm) was sold at 22.10-23.00 million rials ($592-617) per ton ex-stock Tehran, compared with 22.40-23.10 million rials ($601-619) per ton the week before.
Mobarakeh Steel sold no hot rolled coil through the IME last week but it had sold some batches via that route at 16.54-17.34 million rials ($443-465) per ton ex-works, on 66 days’ delivery, the week before.