Iranian steel billet sellers quietly awaiting clearer price trend

Iranian billet producers turned quiet in the week to Wednesday June 2, waiting for a clearer trend after the recovery of billet and rebar prices in the domestic market in China - one of the key destinations for semi-finished steel from Iran.

Last week, domestic billet prices in China dropped to 4,780 yuan ($749.36) per tonne on Friday, down by 140 yuan ($21.95) per tonne since the start of last week.
This news made Iranian mills accept lower prices in their sales to traders. But once rebar and billet prices in China started to recover earlier this week, the mills stepped back, waiting for signs of a clearer price trend.

Fastmarkets daily price assessment of steel billet domestic, exw Tangshan, Northern China, was 5,000 yuan per tonne on Wednesday, unchanged day on...

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