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Iran flat steel import buying activity modest-- The 18th China(Guangzhou) Int’l Plate metal, Bar, Wire, Metal Processing &Setting Equipment Exhibition
4/26/2017 plate metal expo-wire expo |
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Financial Tribune reported that buying activity in the Iranian flat steel import market remained modest despite all suppliers dropping their prices in the past week, sources told Metal Bulletin. One trader said that “There are no bookings; today everybody waits and sees, in expectation of further price falls.”
Metal Bulletin’s weekly assessment of import prices for 2 mm hot rolled coil in Iran dropped to USD 445to USD 450 per tonne CFR Iranian ports on April 19 from USD 465 to USD 490 per tonne CFR.
Offers from Kazakhstan’s ArcelorMittal Temirtau were heard coming at USD 430 per ton FOB Aktau. The estimated cost of freight to the northern Iranian port of Anzali is USD 15 per tonne.
Russia’s MMK offered HRC at EUR 435 (USD 464) per ton FOB Astakhan, which would be equivalent to USD 484 per tonne CFR Anzali.
Meanwhile, Chinese material was available at USD 450-455 per tonne CFR southern ports of Iran, sources told Metal Bulletin.
One trader told Metal Bulletin that “If [the] custom duty is not changed, we shall start to import from China.”
Currently, there is a 20% import duty for HRC and CRC in Iran, while hot dip galvanized coil is subject to a 26% duty.
The duties were expected to be halved at the beginning of the current Iranian year (which started on March 21), but no decision has been announced yet by the government.
In these conditions, buying activity has remained modest.
-- The 18th China(Guangzhou) Int’l Plate
metal, Bar, Wire, Metal Processing &Setting Equipment Exhibition
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