Bids for Iranian billet in new tenders fall amid lack of China demand

The drop in demand for imported billet in China in recent days has resulted in traders reducing the bid prices placed in new tenders with Iranian mills, Fastmarkets learned on May 19.

Sirjan Jahan Steel was looking for $690-700 per tonne fob in the assessment week's tender on a sale from Arfa Iron & Steel done last week at $695 per tonne fob Southern Iranian ports, one trading source said.
The traders that took part in the Sirjan Jahan Steel tender, however, were ready to pay $630 per tonne fob maximum, sources told Fastmarkets.

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