Iran Billet Price Increases by 13% W-o-W
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Iran billet market has shown a significant improvement in current week, the market went up by USD 40 to USD 45.
o Price last week for 150 mm was noted around USD 440 to USD 445, this week the prices jumped to around USD 495 to USD 500.
o Price last week for 125 mm billet was around USD 435 to USD 440, this week the price went up to USD 490 to USD 495.
o The main reason behind the price increase is possibly due to the currency depreciation and to increase the export option.
o As per market sources, the export offers for billet is heard around USD 480-USD 485, however no fresh deal is concluded as of now.
o Iran bulk billet export witnessed a rise of 10% M-o-M, major destination for Iranian billet during the period were UAE, Oman and Indonesia.
| Description | Prices (Oct 15) | Daily Change | M-o-M | Y-o-Y |
| Average Scrap Price | 334 | 3 | 1 | 99 |
| Average Billet Price | 490 | (1) | 53 | 164 |
| Average Rebar Price | 551 | - | 31 | 170 |
| Difference between Billet and Scrap | 152 | (12) | 44 | 66 |
| Difference between Billet and Rebar | 64 | 9 | (22) | 6 |
Unit: USD/MT
Prices inclusive of 9% VAT
Source: Inputs taken from Planner, IFNAA, SteelMint Research
