Given developments in the Asian flats market with its ongoing price downtrend, Iran-based slab suppliers have had no other choice but to lower their prices in order to obtain orders.
Accordingly, one major Iran-based exporter has lately agreed to sell a cargo of steel slab at $560/mt FOB BIK, for shipment in February. The price is $8/mt lower than the price in a tender closed by another Iranian mill in the second half of December. The latter producer has also floated a tender for 40,000-50,000 mt of slab for export, SteelOrbis has learned.