EghtesadOnline: Buying activity in the Iranian flat steel import market was limited last week as prices continued to increase, supported by the upward trend in the global market.
“I think prices cannot increase any more. There is no more real demand. It seems that only traders are booking,” said a market source, Metal Bulletin reported.
> Hot-Rolled Coil
A cargo of around 10,000 tons of Russia-origin hot-rolled coil was recently booked by a trader at €415 ($474) per ton FOB Astrakhan.
The estimated cost of freight to the northern Iranian port of Anzali now varies within the range of $15-16 per ton, depending on the tonnage, Financial Tribune reported.
Another cargo of 2-mm HRC for September shipment was booked by a trader from Kazakhstan at $460 per ton FOB Aktau last week.
This would be equivalent to $468-469 per ton CFR Anzali, considering the cost of freight from Kazakhstan of $8-9 per ton.
Recent HRC offers from Russian mills were heard at €415 ($474) per ton FOB Astrakhan.
One source had received even higher offers, around €435 ($498) per ton FOB Astrakhan. However, this information could not be widely confirmed at the time of publication.
Metal Bulletin’s price assessment for imported 2-mm HRC in Iran was $468-490 per ton CFR Iranian ports on July 12, against $485-487 per ton the week before.
> Cold-Rolled Coil
Metal Bulletin’s price assessment for imported 2-mm cold-rolled coil in Iran went up by $3 per ton over the week to $552-553 per ton CFR Iranian ports, due to fluctuations in the euro-dollar exchange rate.
Recent offers of Russia-origin CRC were heard in Iran at €470 ($537) per ton FOB Astrakhan. This would be equivalent to $552-553 per ton CFR Anzali.
No bookings were heard done at this price over the past week, however.
A rumor was circulating in the market about new offers of Russian material coming at around €490 ($560) per ton FOB Astrakhan. This would be equivalent to $565-566 per ton CFR Anzali.
This information could not be widely confirmed by market sources by the time of publication, however, and the price was not included in the assessment range.