Iranian export billet market quiet with January allocations taken up

The Iranian export billet market has been rather quiet in the first week of December amid reduced availability of material for shipment in January, Fastmarkets has heard.

This was due to successful sales to Africa, the Middle East and Asia in previous weeks as well as increased domestic demand.
"Local buyers were worried about the fluctuation [in the value] of the Iranian rial after fuel subsidy issues," one trader said. "So they decided to pile in to buy tonnages before the rial lost value."

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