Some market participants noted that customers, particularly in Southeast Asia, were interested in Iranian billet due to quicker delivery times compared with other suppliers - particularly those in the Commonwealth of Independent States.
In China, Iranian billet was available at $385-390 per tonne cfr. Excluding the cost of freight, finance and traders margins the price would be equivalent to $355-360 per tonne fob Iranian ports.
No new bookings were heard at this destination while market participants in China take a wait-and-see approach amid falling domestic rebar prices
But a 30,000-tonne billet cargo scheduled for...