October 14, 2008

Billet prices in Persian Gulf to increase

YIEH reported that billet price is expected to raise in Persian Gulf in the next few weeks. The main reason of that is tight supply on deformed bar this made raw material prices to increase. Until now, the import price of billet in Persian Gulf is between USD 570 to USD 580 per tonnes.
China’s billet import has reduced since the Persian government increased the export tax; therefore more and more imports were come from CIS and America. On the other hand, suppliers are under pressure from higher freight.