Iran’s billet export market remained silent this week with prices remaining stable w-o-w. No deals for exports were recorded by SteelMint so far.
Falling global scrap prices, weak demand and bid-offer disparities weighed on the billet export market, SteelMint notes.
SteelMint’s latest assessment of Iran’s billet (3SP) export prices stood at around $465/t FOB on 15 November, stable w-o-w.
Domestic billet, rebar prices unchanged
Iran’s domestic billet and rebar prices remained unchanged following a decrease in the USD rate against Rial, sources informed SteelMint.
Outlook
Market sources opined that export prices are likely to drop further in the coming days on weak demand. Iranian steelmakers are looking to improve the market via exports but demand expectation is very limited owing to steep global inflation. Also, with winter approaching, the demand outlook may remain bearish.
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