By Tuesday size 125 mm reached USD 425 /mt ex-work including 9% VAT with no buyer interested. By Tuesday onward some improvements happened in the market as size 125 mm finished the week at USD 441-452.5 /mt and size 150 mm reached USD 457-462 /mt ex-work including 9% VAT.
Generally, long products market is not in a good mood and re- rollers prefer buying cheaper billet from small mills as their demand level is also limited. DRI supply level became limited during last week which may help billet price improve in coming days. Also some rumors about possible rise of debar was heard which would be helpful for billet price too.
Source:Iran Steel News Bulletin