Iran billet market was almost stable during last week. Despite upward trend in Long products market, Billet size 150 mm hovered around IRR 12,800,000 per tonne on truck in Anzali including 5% VAT. During holy month of Ramadan market participants do not expect any rise in billet price, due to market sadness.

Besides, during last Iranian month billet import level was up significantly. During first 26 days of last Iranian month around 288,000 tonnes of billet has been imported compared to just 123,740 tonnes a month ago.

Some parcels of billet with 20 to 40 days delivery time were offered at IRR 11, 000,000 per tonne and size 130 mm was transacted at around IRR 12,500,000 per tonne in Southern port of Imam Khomeini. Some market participant anticipates a downward trend in billet market as supply level has grown. Some others believe that low inventory level of re rollers won't let billet prices decline. Billet market didn't follow upward trend of long products market during last week in Iran.

Sourced - Irsteel.com

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