In the latest development from the Iranian steel market, Khouzestan Steel a major Iran-based mill recently concluded an export tender for steel billet. The company finalized the sale of a cargo comprising 30,000 tonnes of steel billet.
The cargo was sold at a price of $471 per tonne (FOB) for shipment scheduled in late May 2024. This pricing reflects the company's assessment of market conditions, demand-supply dynamics, and prevailing global steel prices. The decision to sell at $471 per tonne FOB underscores several considerations. Firstly, it indicates the company's strategic approach to pricing, balancing competitiveness with profitability.
In setting this price, the company likely aimed to remain competitive in the international market while ensuring adequate returns on its export sales. The successful conclusion of this export tender also reflects positively on the Iranian steel industry as a whole. It showcases the industry's capacity to engage in international trade and compete effectively in the global market.
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