Prices in local Iranian billet market

Tuesday, 14 June 2016 14:32:16 (GMT+3)   |   Istanbul
       

Demand in the local Iranian billet market was at low levels last week, while market sources state that Iranian finished steel producers lacked the liquidity they needed to conclude deals for large tonnages of billet, and this exerted downward pressure on domestic billet quotations.
 
Billet prices in the local Iranian market moved sideways last week. Accordingly, as of the end of last week 125 mm billet quotations stood at IRR 12,700,000-13,400,000/mt ($416-439/mt) ex-works and  150 mm x 150 mm square billet prices were at IRR 13,500,000-13,800,000/mt ($443-452/mt) ex-works, both including nine percent VAT.
 
$1 = IRR 30,506

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