Posted on 19 Oct 2021
Iranian rebar export prices have risen following the conclusion last week of parliamentary elections in neighbouring Iraq. Numerous deals have been concluded and prices are up $10-20/tonne on-week, Kallanish notes.
The Syrian and Iraqi markets continue to demand Iranian 10-32mm diameter A3 grade rebar at $565-580/t ex-works this week. Freight must be arranged by the buyer. Iran’s Arwand Steel is heard to have concluded to Syria a deal at $565/t ex-works for 1,000 tonnes, which will be shipped through Iraq by truck.
Rebar made by Khorasan Steel and Rouhina Steel is preferred among buyers in Iraq, as well as domestic buyers in Iran, sources observe. Buyers are ready to pay IRR 1,000/kg ($20/tonne) more in the domestic market and $10-20/t in the export market for this product.
Mills raised their domestic rebar prices by IRR 4,000-5,000/kg from last week's quotations and are now offering at IRR 143,119-144,036/kg ($528-531/t) ex-works, excluding 9% VAT, depending on market recognition and quality preferences.
Stockists, however, are offering the same material at IRR 5,000/kg more on an ex-works warehouse basis, in order to cover their transportation cost of nearly IRR 3,000/kg and make a IRR 2,000/kg profit.
The Iranian currency has gained value against the dollar since last week, from IRR 276,000 to IRR 271,000 per dollar on Monday.
Iranian rebar export prices have risen following the conclusion last week of parliamentary elections in neighbouring Iraq. Numerous deals have been concluded and prices are up $10-20/tonne on-week, Kallanish notes.
The Syrian and Iraqi markets continue to demand Iranian 10-32mm diameter A3 grade rebar at $565-580/t ex-works this week. Freight must be arranged by the buyer. Iran’s Arwand Steel is heard to have concluded to Syria a deal at $565/t ex-works for 1,000 tonnes, which will be shipped through Iraq by truck.
Rebar made by Khorasan Steel and Rouhina Steel is preferred among buyers in Iraq, as well as domestic buyers in Iran, sources observe. Buyers are ready to pay IRR 1,000/kg ($20/tonne) more in the domestic market and $10-20/t in the export market for this product.
Mills raised their domestic rebar prices by IRR 4,000-5,000/kg from last week's quotations and are now offering at IRR 143,119-144,036/kg ($528-531/t) ex-works, excluding 9% VAT, depending on market recognition and quality preferences.
Stockists, however, are offering the same material at IRR 5,000/kg more on an ex-works warehouse basis, in order to cover their transportation cost of nearly IRR 3,000/kg and make a IRR 2,000/kg profit.
The Iranian currency has gained value against the dollar since last week, from IRR 276,000 to IRR 271,000 per dollar on Monday.
Source:Kallanish
