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Iran steel market trend in week 51st - Billet

Billet market was downward during last week in Iran. Domestic production billet size 150 mm was down by IRR 200,000 per MT to IRR 15.5 million tonne to IRR 15.6 million ex-works including 8% VAT. Size 120 mm was also down to around IRR 15.2 million per tonne including VAT. 

But in global markets price of CIS billet is not any more decreasing and Chinese exporters are not offering currently.

The reason behind downward trend in Iran billet market is long products downward prices which made billet demand scarce. Policy of lowering production level has been seen in billet market currently like long products market.

Due to religious holidays in Sunday and Tuesday this week, market will be almost closed in coming days, so any significant change during week 52nd would be unlikely.