Tag: Iranian mills hold back billet export sales as bids fall in recent tenders

The sharp plunge in Chinese steel futures has turned sentiments bearish in the Iranian billet exports market. According to data maintained with SteelMint, the SHFE rebar futures contract for Oct’21 plunged by RMB 729/tonne ($113/t) week-on-week (w-o-w) to close at RMB 5,186/t ($806/t) on 20 May’21. “We had floated a tender for 60,000 t of…