During last week billet market experienced many fluctuations in Iran. Market price for size 150 mm was IRR 15.5 million per tonne on truck in Anzali including 5% VAT by beginning of the week. After rise in ex rate, billet price rose to IRR 16.8 million per tonne. Some sellers were offering at IRR 17.2 million per tonne, but there was no taker in the market.
By middle of the week, after ex rate started dropping, billet price became downward too. By Wednesday import billet price was around IRR 16.6 million per tonne in Anzali and domestic product was IRR 16.4 million per tonne to IRR 16.5 million per tonne, but transactions were limited.
Debar price experienced same fluctuations during last week. At the moment there is around IRR 1 million per tonne to IRR 1.3 million per tonne gap between billet and debar sale price. Billet import level has bottomed and it is not expected to rise as long products market is depressed.
Though, import billet price should rise due to low supply level. But it doesn't mean that final products prices will rise too as import materials will be replaced with imported one.
