A fresh deal for ex-Iran billet has been signed in Thailand at $378/mt CFR for July shipment recently. This level is slightly below offers heard last week at $380/mt CFR Thailand, but above the previous transaction to Thai buyers at $370-375/mt CFR earlier this month. The material was purchased from the Iranian mill earlier, sources confirmed. Sentiments have weakened in the Asian billet market and sources expect prices to go down in the near future.
The latest deals level in the export market in Iran were at $348-350/mt FOB last week. But this week sources have reported that the tradable value is already down by at least $5/mt FOB.