Chinese suppliers, under pressure from unfavourable conditions in their domestic market, have significantly reduced their export prices in recent weeks
. This has affected other markets, notably in the CIS
, forcing mills there to cut their export offers too.
The lower prices have attracted attention in the Iranian market, making imports profitable again despite the Middle Eastern country’s import duties.
Hot rolled coil
Kazakhstan’s ArcelorMittal Temirtau was heard offering 2mm hot rolled coil (HRC) to Iran at $430 per tonne fob Aktau.
The estimated cost of freight to the Iranian northern port of Anzali is around $15 per tonne.