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