Billet supply increases in Iran Commodity Exchange

251,000 tons of billet was supplied on the Iranian Commodity Exchange, increasing +79% weekly, considered one of the high supply values in the stock market transactions. On the Commodity Exchange in the coming weeks, it is seen that the billet price will decrease by -5%, with the price of billet in the range of 16.7 ($327.52) million Tyumen, with some companies at 16.5 ($323.52) million Tyumen. this week sellers are in profit compared to next week. Recently, a significant increase in supply has been seen in Iran's steel export markets, this lowered the country's export prices to below $520/ton and increased the domestic sales motivation of the companies.