Billet price continued downward trend during last week in Iran. Price of billet size 150 mm dropped by USD 8 per tonne to USD 714 per tonne on truck in Anzali including 6% VAT and custom duties. Exchange rate was declining in H1 of the week so it affected billet transactions. When ex rate started improving by last days of the week, billet price stopped dropping but demand level did not change.
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Sellers are resisting against decreasing billet price but market is becoming more cautious against buying billet as long products demand is at the bottom. Billet supply level is enough at the moment.steel pipe tube

During last Iranian month (22nd June to 22nd July) around 137,340 tonnes of billet has been imported to Iran which 101,000 tonnes was imported to Imam Khomeini port of southern part of the country. Market will be silent in coming days due to Holy Ramadan and religious mourning. Sections demand will drop by sure and will affect billet demand level.steel pipe tube

Source - Irsteel.com

(www.steelguru.com)