Demand in the local Iranian
billet market has remained at low levels over the past week, while market sources state that some Iranian steel producers are willing to reduce their domestic
billet prices to stimulate their sales which have been quiet due to Ramadan and also due to the summer which is traditionally an offseason for business.
Meanwhile,
billet prices in the local Iranian market have moved sideways week on week. Accordingly, 125 mm
billet quotations have stood at IRR 12,700,000-13,400,000/mt ($367-388/mt) ex-works and 150 mm x 150 mm square
billet prices have remained at IRR 13,500,000-13,800,000/mt ($390-399/mt) ex-works, both including nine percent VAT.
$1 = IRR 34,580