While the dollar price remained stable at 50,000 Tyumen in Iran, it affected the price of steel products. In addition, considering the decrease in price due to the high amount of sponge iron supply, the possibility of a decrease in billet and slab prices in the Iranian Commodity Exchange has increased in the coming days.
While billet export prices were traded at $550/t fob last week, it was announced as $520/t this week.
In the local market, the low price sales of steel products as per the instructions given by the Ministry caused the prices to decrease in billet supply and transactions. 199,830 tons of the general supply was determined in the Iranian Commodity Exchange, 39% of which was billet, and 77,930 tons were sold. As a result, the average price in the Commodity Exchange was 19,500 ($390/t) Tyumen including VAT. Compared to the previous week, the figures traded in billet prices decreased from 19,200 ($384/t) Tyumen to 17,500 ($350/t) Tyumen.
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