Lack of demand in Asia, domestic market weigh on Iran's exported semi-finished steel prices

The Iranian export billet and slab market was under pressure from lower export demand, particularly in Asia, as well as domestic demand in the week ended Wednesday August 12, sources said.

Demand in the Asian region, which has been largely limited to China in recent months, decreased also due to the weakening futures market.
The most-traded October rebar futures contract closed at 3,805 yuan per tonne on Wednesday, up by 10 yuan per tonne from a day earlier and down by 27 yuan from 3,832 yuan on the same day last week.
Recent offers to traders for Iranian billet with October shipment were heard at $395-400 per tonne fob Southern Iranian ports, sources said.

One trader reported a booking at $396 per tonne...

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