Iranian decision of not lowering import tax pushes HRC prices up
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Thursday, 25 Oct 2007
It is reported that Iran’s industrial department rejected the request raised by domestic HRC buyers to lower import tax.
This decision has resulted in the side effect of a climbing HRC price in the market. It is reported that the latest transaction price of HRC in Iran has goes up to USD 575 to USD 585 CFR South Iran levels.
On the other hand, the domestic steel supply is in short due to the break up of business between foreign traders with local purchasers. This also caused the price increase of hot rolled coils.
