Long products prices were downward slowly during last week in Iran, mainly due to demand shortage which has been continued from the beginning of current Iranian year. By middle of the week sections prices were upward just because of high production costs. When producers buy billet at USD 796 per tonne it's not logical to sell their rebar at the same price in IME.

By Wednesday news about decline in custom duties of debar made sections market silent. Market participants are wondering why the government didn't omit import duties of billet despite decreasing custom duty of debar. If so billet price would drop and would soften problems of domestic debar producers.

But by Wednesday afternoon market was more active as participants believe the drop in custom duty of debar would jut decline government's income. It's notable that at the current price of imported debar, CFR Iranian ports, import price is at least USD 48 per tonne higher than domestic products.

Other long products prices didn't face significant volatilities. Prices were downward till the middle of the week and then were back to a week ago levels.