Flat products market experienced a downward trend last week. 2 mm thickness was priced at IRR 17,200,000 per tonne by start of the week and finished it at IRR 17,100,000 per tonne. Mobarakeh Steel and Oxin Steel mills experienced IRR 200,000 to per tonnev to IRR 300,000 per tonne declines in their prices but no buyer was interested.
CRC price dropped by IRR 500,000 per tonne during last week in Iran and market participants expect more declines in coming days. HDG market had the same trend as CRC.
Global flat products markets are depressed and prices are declining. At the moment custom duties for importing steel have increased in Iran but nothing has changed at prices. The big problem is demand level which is almost zero. Consumption level has reached the lowest possible level and buyers move cautiously.