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Anticipating rise in Iran's export billet prices

Iran's billet export prices soar to record highs amidst tender success and supply concerns.

Anticipating rise in Iran's export billet prices

Iranian billet export prices are rising due to a recent tender and domestic gas supply concerns. Iranian steel producers face reduced production, and mills anticipate further increases. However, fewer offers and active tenders remain.

Iranian company concluded its latest billet export auction this week, successfully selling a substantial 50,000-ton shipment at $490 FOB per ton. Surge in value reflects the robust demand and favorable market conditions for Iran's billet offerings on the international stage.

This marks the highest price for Iran's exported billet since mid-July of this year. The delivery date for this company's billet cargo is set for February 2024.

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