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Imported flat steel buying in Iran thin over lower domestic prices- The 19th China£¨Guangzhou£©Int¡¯l Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
11/21/2017 Sheetmetal machinery, Forging, Stamping expo |
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Financial Tribune reported that buying activity in the Iranian flat steel import market was modest in the week to Nov. 15, as prices for foreign material were significantly higher than the domestic market.
One reason for high import flat steel prices in Iran is increased cost of freight in the Caspian Sea basin sparked by a massive increase in grain shipments to the country, which has led to the lack of vessels.
The cost of freight from the Russian port of Astrakhan is USD 45 to USD 46 per tonne, against a normal rate of USD 20 per tonne. Transportation from Kazakhstan¡¯s Aktau Port costs USD 30 to USD 31 per tonne, against the typical rate of USD 15 per tonne.
Metal Bulletin¡¯s price assessment for imported 2 mm hot-rolled coil in Iran was USD 560-575 per tonne CFR Iranian ports on Nov. 15, compared with USD 565-575 per tonne CFR a week earlier.
Offers from Russian mills were reported coming in at EUR 450 (USD 529) per tonne FOB Astarkhan.
One cargo for end January shipment was booked by a trader at the mentioned price. The tonnage was not disclosed.
Considering the current cost of freight from the port to Iranian northern port Anzali of USD 45-46 per tonne, which would be equivalent to USD 574-575 per tonne CFR.
Some sources, however, considered that a discount of around EUR 10 per tonne could be achieved, had the tonnage been big enough.
Recent bookings for Kazakhstan-origin material were reported at USD 535 per tonne FOB Aktau, or USD 565 per tonne CFR Anzali, considering USD 30 per tonne freight cost between the two ports.
The price assessment for imported cold-rolled coil in Iran narrowed to USD 605-620 per tonne CFR Iranian ports on Wednesday, against USD 600-626 per tonne a week earlier.
Kazakhstan-origin CRC was available in the market at USD 570 per tonne FOB Aktau, or USD 600 per tonne FOB Anzali.
However, the price was considered too high by customers.
One trader said that ¡°[The price of USD 600 per tonne CFR] is too expensive, considering that in the local Iranian market you can buy the material at USD 550-560 EXW.¡±
Russia-origin CRC was said to be available at €490 per tonne FOB Astarkhan.
In the coated steel segment, the situation was the same, with customers preferring domestic material because of more competitive prices.
China-origin hot-dipped galvanized coil with 1 mm thickness was available in Iran at USD 695 per tonne CFR, sources said.
Considering the 26% import duty, 9% VAT tax and 3% transportation costs, this would be equivalent to USD 959 per tonne.
In the domestic market, the material of similar thickness is available at USD 880 per tonne EXW.
Therefore, sources said workable price for import HDG coil should not exceed USD 640 per tonne CFR.
Metal Bulletin¡¯s weekly price assessment for import HDG coil in Iran was USD 640-695 per tonne CFR, falling by USD 15 on the lower end from the previous range of USD 655-695 per tonne CFR.
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The 19th China£¨Guangzhou£©Int¡¯l
Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
-Sheet metal exhibition, Sheet metal expo,
2018 Sheet metal exhibition, 2018 Sheet metal expo, China Sheet metal
exhibition, China Sheet metal expo, Forging exhibition, Forging expo, 2018
Forging exhibition, 2018 Forging expo, Stamping exhibition, Stamping expo
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