The international steel market has been shaken by recent developments as Iran's export billet and slab prices exhibit a notable divergence from the CIS price trends, triggering concerns of unfair trade practices and dumping allegations against Russia.
In the fourth week of July, the price of CIS export billet dropped by -50 compared to the previous week, reaching $450 per ton, the lowest price for this product in the current year. This decline is attributed to Russian anti-dumping practices.
In the same period, Iran's export billet price experienced -10 decrease, falling from $483 per ton to $473 per ton. Despite the decline, it remained higher than the price of CIS billet. This is expected to lead to a continued decline in the FOB price of Iranian billet in the upcoming weeks is likely to fall to $420 attributed to export duties and intensified regional competition.
Iran, a significant player in the global steel industry, has long been known for its exports of billet and slab, serving various international markets. However, in recent months, Iranian steel exports have faced with prices deviating significantly from those set by the CIS countries prices. Experts point to Russia as a key factor behind the alarming price disparity. Iran's exporters are voicing concerns about the adverse effects on their competitiveness and market share, which could have significant implications for the country's economy.
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