US sanctions continue to weigh on Iranian billet, slab markets

Iranian export steel billet and slab markets were slow in the week to Thursday January 30, with Chinese market participants still away for Lunar New Year and US sanctions undermining buying appetite.

The steel billet index export, fob Black Sea, CIS slipped by $4 per tonne over the week, to $392 per tonne on January 30 amid weakening scrap prices.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey was $264.42 per tonne on Wednesday….