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05 Jun

Iranian mills set unviable export prices for billet

Iranian mills have increased their billet export target prices to $490-495/tonne fob Iran in their recent and forthcoming tenders due to the low "Nima" exchange rate. This stipulates export revenue must be converted at nearly 20% below the free-market exchange rate and means domestic sales will offer mills better margins. The government has also imposed electricity supply restrictions due to high temperatures, to prioritise household consumption. This w…
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