Flat Steel Imports Remain Sluggish

Buying activity in the Iranian flat steel import market has been sluggish over the past week, as imports were too expensive compared with local products.

Metal Bulletin’s price assessment for HRC imported into Iran was $510-570 per ton CFR Iranian ports on Wednesday, compared with $514-515 per ton CFR the week before.

Iranian weekdays start on Saturday.

Hot Rolled Coil

Offers of 2mm HRC from Russia were heard coming in at $510-520 per ton CFR Anzali.

No HRC from Kazakhstan was available in Iran last week.

Some market participants said there was no interest in Kazakh coils due to significant price rises over the past few months, while others said, due to winter season, there have been problems getting deliveries through the Caspian Sea.

“We have [had] a cargo from Kazakhstan postponed for 20 days,” one trader said.

The latest offers from Kazakhstan’s ArcelorMittal Temirtau were reported at the level of $500 per ton FOB Aktau, which equates to $515 per ton CFR Anzali.

Meanwhile, China-origin HRC was offered at $570 per ton CFR southern ports.

No deals were concluded either with CIS or Chinese suppliers.

“In the domestic market, 2 mm HRC is currently available at $575 per ton ex-warehouse. Since there is a 20% import duty and 9% VAT on imported HRC, for Iranian customers to be interested, the HRC import price needs to be “around $420 per ton CFR”, another trader said.

CRC and HDG

Metal Bulletin’s price assessment for Iranian imported cold rolled coil was $550-600 per ton CFR Iranian ports, compared with $575-600 per ton CFR the week before.

Russian CRC was available at $550 per ton CFR Anzali, sources said, while Chinese offers were coming in at $600 per ton CFR southern ports.

China-origin hot dipped galvanized coil was available at $650-660 per ton CFR.

Metal Bulletin’s assessment for imported HDG in Iran was $650-660 per ton CFR Iranian ports, compared with the prior week’s $699-700 per ton CFR.

source: Financial Tribune