Iran's export steel prices revealed noteworthy trends. The FOB price for Iran's exported steel billets experienced a 1% increase, reaching $490 per ton. This aligns with the prior week's prediction, anticipating the entry of the steel billets prices into the $490 channel.
A significant development was observed as a prominent Iranian steelmaker successfully sold a substantial 50,000-ton shipment of steel billets at a FOB price of $490 per ton, marking the highest export price since mid-July of the previous year.
Conversely, the ex-work price for Iran's exported rebar witnessed a 2.2% decrease, settling at $440-$445 per ton for the current week. Notably, recent months have seen a divergence in the pricing trends between billets and rebar for Iran's export market. While billets prices are on an upward trajectory, the export rebar market has undergone a downward trend.
The price of Iran's export slabs remained unchanged at $463 per ton, indicating stability in this segment of the market.
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