Iran's steel billet export market remained silent this week. SteelMint's latest assessment of Iran's billet (3SP) export prices was assessed stable w-o-w at $475/t FOB on 31 August, 2023.

The billet export market saw little or no movement, and no deal was heard floated in the region this week. SteelMint understands that the rise in billet export prices in the previous export tender has created rational in the market for high pricing.

Domestic billet prices rise, rebar prices fall

Domestic billet prices in Iran rose this week amid high demand for billet in the market while rebar prices decreased, sources informed.

Billet sales on IME down w-o-w

Domestic billet sales on the Iran Mercantile Exchange (IME) dropped 7.5% w-o-w, and the average sales price increased by 1% w-o-w.

Around 98,870 t of billets were traded on the IME in the week under review at an average sales price of 202,188 rial. Last week, about 106,950 t of billets were traded at an average price of 203,862 rial.

Domestic billet prices in Iran rose this week amid high demand for billet in the market while rebar prices decreased, sources informed.