Iranian billet producers hold offers firm on strong domestic demand

Trading activity in the Iranian export billet market was limited in the week to Wednesday March 4 because of a mismatch between mills' offer prices and the bids placed by customers.

Iranian billet producers continued to insist on export offers at $390 per tonne fob, referring to strong demand in the domestic market.
The increased demand seen in the local market in recent weeks was the result of the loss in the exchange-rate value of the national currency against the US dollar, with local traders hedging against inflation.

In the official exchange markets, $1...

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