The domestic billet demand in Iran saw a sharp drop in a recent trade event hosted at the Iranian Mercantile Exchange (IME). It was due to the sufficient billet stocks with the re-rollers, sources reported to SteelMint. According to sources, approximately 18,000 t billet reported having traded at IRR 123,213/kg ($490/t), up by IRR 6,045 ($26). The offered quantity was around 180,000 t.
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