Tag: Strait of Hormuz

Reopening of Strait of Hormuz supports exports Liquidity shortages pressure long steel consumption Iranian domestic billet prices rose by 7,000 rial/kg ($5/t) w-o-w to 585,500 rial/kg ($398/t) as of 29 June, supported by improving export sentiment following the reopening of shipping through the Strait of Hormuz and expectations of stronger overseas sales. The anticipated resumption…