Last week, most Iranian producers finally returned to the market, placing fresh tenders for cargoes to be shipped in October and December. Mills were waiting for China to return from a week-long national holiday to see the market trend.
Domestic prices for steel rebar surged in China on October 9
amid active restocking activity, and Iranian mills managed to win deals at higher prices during the weekend.
One cargo of 30,000 tonnes scheduled for shipment in November was sold to a trader at $412 per tonne fob southern Iranian ports.
There were two more cargoes from different mills heard sold at $410-413...