EghtesadOnline: The Iranian flat steel import market has been largely inactive for the most part of the week that ended April 5 due to long holidays to ring in the Iranian New Year (started March 21).
Most market participants returned to the market only on April 3 and were trying to assess the situation both in the domestic and import markets, sources told Metal Bulletin.
“We are just back from holiday so there is little market understanding or activity for the moment,” one source said.
“HRC prices in China are going down, so we expect lower import offers, too,” a second source said.
Meanwhile, according to Financial Tribune, Russia’s MMK was recently heard offering HRC at €445-450 ($475-480) per ton FOB Astrakhan.
The estimated cost of freight to the northern Iranian port of Anzali is around $20 per ton.
Metal Bulletin’s assessment of import prices for 2 mm HRC in Iran rose to $495-500 per ton CFR Iranian ports on April 5, from $475-493 per ton CFR a week earlier.
CRC offers from MMK were heard at €520 ($555) per ton FOB Astrakhan, down $10 per ton over the week.
Metal Bulletin’s assessment of import prices for CRC in Iran dropped to $570-575 per ton CFR Iranian ports on Wednesday, from $584-585 per ton CFR in the previous week.