Iranian billet market softens under pressure from lower prices in CIS

Iranian export billet prices softened in the week to Wednesday January 22 following a downtrend in the CIS export market.

The CIS export billet price slipped by $12 per tonne over the week, to $396 per tonne on January 22, amid weakening fundamentals in the finished long steel market as well as falling scrap prices.

Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, was $280.70 per tonne on Wednesday. This was unchanged day on day but down by $15.15 per tonne...

Published

Vlada Novokreshchenova

January 22, 2020

20:00 GMT

Dnepr