In the last two weeks, Iran's billet export prices have been trending upwards, rising by +20 and +12 to $492/t (FOB), while global steel export prices have been falling. The increase was higher than the local prices in India and Tangshan, China. On the contrary, slab and rebar prices remained unchanged at $480/t and $505/t, respectively. According to market reports, Iraq announced to reserve 30,000 tons of billet from Iran at $494/t FOB.
According to the market, Iranian FOB prices are currently in a favorable position compared to CIS and East Asian prices. This is due to the fact that prices in the region and neighboring countries are on an upward trend. Exports from Turkey and the focus on the Iraqi market are expected to lead to higher prices for the country's steelmakers.
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