Iranian steel billet availability limited in export market

The availability of Iranian steel billet was limited in the export markets because of strong domestic demand, Fastmarkets learned on Wednesday February 26.

Weakening of the local currency against the US dollar was the reason for the increased domestic demand, with imports being more problematical.
"Continued devaluation [of the Iranian rial] means that local traders will keep buying to hedge against inflation," one trader said.

Other market participants believed that demand in Iran will remain buoyant for several...

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