Iran to export domestic steel market downturn
Iran's domestic demand weak finished Cold Rolled Steel Coil
prices continued to decline, some manufacturers started to export.
Since the finished steel market continues to weaken, Iran billet supply surplus. Currently billet transaction price in the 1260-1290 million riyals / tonne, about US $ 355-363 / ton, while imports from CIS billet of about 300 US dollars / ton (CFR). Some manufacturers to ease the pressure on domestic supply, Brazil and Italy have turned to export.
Longs market fell slightly compared with July, the price of rebar million riyals in 1500-1510 / ton. Flat steel market is slightly better than longs and billets, hot rolled coil price in 1560-1790 million riyals / ton, unchanged from July, imports from the CIS cold rolled base price of about 1770-1780 Rial / Ton.
Iran's industry outlook is not optimistic that the next 3-4 months the market will not be changed, the downturn trend will continue. This time to defuse the pressure of excess domestic supply, exports are their only option, in addition to possible currency devaluation to stimulate exports will further increase.