Export prices for steel slab from Iran dropped dramatically in the week to Wednesday June 1, with low-cost competition from Russian material arriving in Asia one of the main factors behind the decline.
The majority of Iranian billet producers cancelled export tenders opened last week after the bids they received did not match their expectations, sources said.
Trading activity in Iran’s export market for steel billet and slab slowed down in the week to Wednesday March 23 with the country celebrating the Persian New Year.