CIS suppliers have increased billet offers to the Iranian market by about $20-25 per tonne.
They are now offering $470-480 for billet sizes 100x100mm up to 150x150mm cfr Iranian northern ports for March production and April shipment.
The last transaction for CIS billet was recorded at $440-450 per tonne cfr Iran in the final days of December.
The increased offers are influenced by prices of ready stock CIS billet on the Iranian market; local traders were recently selling the material at 4.6-4.7 million Rials ($460-470) per tonne ex-stock Iranian northern ports and $450-460 per tonne ex-stock Iranian southern ports.
However, they were unable to secure these levels and the price of ready stock CIS billet is failing back.