Iran billet market has shown a significant improvement in current week, the market went up by USD 40 to USD 45.
• Price last week for 150 mm was noted around USD 440 to USD 445, this week the prices jumped to around USD 495 to USD 500.
• Price last week for 125 mm billet was around USD 435 to USD 440, this week the price went up to USD 490 to USD 495.
• The main reason behind the price increase is possibly due to the currency depreciation and to increase the export option.
• As per market sources, the export offers for billet is heard around USD 480-USD 485, however no fresh deal is concluded as of now.
• Iran bulk billet export witnessed a rise of 10% M-o-M, major destination for Iranian billet during the period were UAE, Oman and Indonesia.
| Description | Prices (Oct 15) | Daily Change | M-o-M | Y-o-Y |
| Average Scrap Price |
334 |
3 |
1 |
99 |
| Average Billet Price |
490 |
(1) |
53 |
164 |
| Average Rebar Price |
551 |
– |
31 |
170 |
| Difference between Billet and Scrap |
152 |
(12) |
44 |
66 |
| Difference between Billet and Rebar |
64 |
9 |
(22) |
6 |
Unit: USD/MT
Prices inclusive of 9% VAT
Source: Inputs taken from Planner, IFNAA, SteelMint Research
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