Billet market experienced some declines for size 150 mm during last week in Iran. It was down by USD 10 per tonne to USD 590 per tonne and USD 623 per tonne in Northern and Southern ports including 3% VAT. Price of other sizes of 100 mm and 125 mm were stable.
Billet price has stopped dropping in Iran because of two reasons:
1. Prices have reached the bottom and should start rising sooner or later.
2. Suppliers confident about market improvements in the New Iranian Year are holding wait and see policy.
Billet price has stopped dropping in Iran because of two reasons:
1. Prices have reached the bottom and should start rising sooner or later.
2. Suppliers confident about market improvements in the New Iranian Year are holding wait and see policy.
At the end of last week, 150 mm billet was transacted at USD 623 per tonne in Anzali port and size 125 mm up to USD 655 per tonne on truck including 3% VAT. Meanwhile minimum import offer price is USD 640 per tonne CFR Anzali port. Therefore, the gap between import offers and domestic prices has made market participants optimistic about future trend.(sourced:irsteel.com)
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