Customers from the Middle East region continued to show interest in Iranian billet despite the high likelihood of United States sanctions, with several cargoes booked over the past week.
The Gulf Co-operation Council (GCC) countries, North Africa and Southeast Asia are the main export markets for Iranian billet.While the US announced its intention to withdraw from the international deal on Iran's nuclear power program in August, market participants voiced doubts that Asian customers would take the risk of buying Iranian semi-finished steel products under a renewed sanctions regime. However, they added that GCC nations would find a way to arrange...