New 1.2m tpy Iranian steel plant could increase pressure on global billet price

A new steel plant with capacity to make 1.20 million tpy of steel billet has started operations in the Yazd province of central Iran, German equipment supplier SMS Group said this week.

Global billet prices, which are already under pressure from Iran-origin shipments to countries such as Indonesia, could be pushed down further by any additional capacity being created in Iran, market sources have said.

The new unit, which is owned by Iran’s Chadormalu Mining &...

Published

Lee Allen

July 21, 2017

16:50 GMT

London