Buyers of Iranian billet rush to book material before US sanctions take hold

Buying activity in the Iranian export billet market was lively in the week ended Wednesday May 16 with customers rushing to place new orders for July-shipment material, especially those in the Gulf Co-operation Council (GCC) countries.

They feared that purchases with later delivery dates might be hindered by the threatened reimposition by the United States of trading sanctions against the Middle Eastern country after the US withdrew from an international nuclear-power deal with Iran.
US President Donald Trump announced his country’s withdrawal from the nuclear-power deal on May 8.
Companies that have dealings with Iran were allowed 90-180 days to discontinue them. At the end of this period, the US intends to reimpose its sanctions against Iran.

The US move has...


Vlada Novokreshchenova

May 16, 2018

20:18 GMT