The price paid for steel billet exported from Iran weakened in the first week of August following the drop in the global iron ore market. Iranian producers were offering billet scheduled for October shipment at $400-405 per tonne fob Iranian ports, sources told Fastmarkets, but this price was rejected by customers in the major sales outlets in Asia and the Middle East. “The slump in iron ore prices has broken the positive sentiment seen in the Iranian export market in previous weeks,” a producer source said. One major Iranian billet exporter received bids below $390 per tonne fob as part of a recent tender for steel billet with October shipment.
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