Iranian billet prices drop amid lower raw materials costs

Lower prices were agreed in the most recent round of export steel billet sales from Iran amid the widespread decrease in raw materials costs, Fastmarkets learned on Wednesday March 10.

A cargo of Iranian billet was heard sold on March 7 at $560 per tonne fob southern Iranian ports, in line with highest prices achieved a week earlier.
At the beginning of this week, however, Iranian mills had to give discounts to finalize deals amid the drop in iron ore and scrap costs.

On March 9, Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao, dropped by $9.93 per tonne day on day...

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