CIS is cutting the billet price to Iran again, as the current offer is CFR Iranian Northern ports US$360~$375/ton for April’s shipments.
However, CIS quoted CFR Iranian Northern ports US$440~$450/ton to Iran during January of 2009.
Iran mainly imports billet from Russia and Ukraine and sellers nowadays are trying to continuously reduce the prices and accept different payment terms and greater price bargain in order to gain more orders, but the market nevertheless adopts a wait-and-see attitude or only purchase according to the urgent demand.
Reportedly, Iran totally imported 4.14 million tons billet during last fiscal year but the volume may slide to about 3.5 million tons during this fiscal year. Source: Yieh.com