Iranian semi-finished steel prices slide; export window narrows

Iranian billet and slab producers had to reduce prices for foreign customers in the week to Wednesday December 1 because the window for export opportunities, particularly for billet, narrowed.

The removal of the safeguard duty on billet in Egypt in mid-November activated import bookings for Iranian-origin material, among others.
However, demand was short-lived and dried up when the immediate needs of customers were covered.
Iranian sellers then had to turn to traditional outlets, which are concentrated in Asia, but the pricing environment there is less favorable than in other markets.

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Vlada Novokreshchenova

December 01, 2021

18:25 GMT