EghtesadOnline: Hot rolled coil import offers to Iran have inched down over the past week, following the downtrend in sentiment in the CIS export market.
Metal Bulletin’s weekly price assessment for Iranian imported 2-mm HRC dropped $5 per ton to $500-505 per ton CFR Iranian ports, down from $505-510 per ton CFR.
Offers from Russia were heard coming within the mentioned price range.
And sources reported offers of 2-mm HRC from South Korea at $550 per ton CFR southern Iran.
The material from South Korea is of higher quality than the CIS material and traditionally more expensive, Financial Tribune reported.
The reduced offers for HRC did not spark interest among Iranian customers, as prices for earlier imported material, as well as locally-produced HRC, were still being heard at significantly lower levels.
“Imports do not make sense today as the Iranian market is low and weak,” one source said.
Market participants said imported 2-mm HRC was being offered from stock at $564 per ton on truck at the northern port of Anzali.
Recent deals for 2.5-8-mm coil from Iran’s Mobarakeh Steel Company were concluded on Iran Mercantile Exchange at $522 per ton ex-works, sources told Metal Bulletin.