An Iranian mill concluded an export deal for 30,000 t of steel billets at around $531/t FOB, sources informed. Prices have increased sharply by $30/t as against the levels seen early this week. A recovery in global scrap prices, and limited export allocations amidst power curbs have kept billet export prices supported. Iran’s semi-finished steel exports (billets/blooms/slabs) totalled 5.18 mnt, stable y-o-y in Mar-Dec’22.
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