Esfahan steel company (ESCO), one of the largest exporter of Steel in Iran has concluded tender for export of 20,000 MT billet for February 2018 shipment for USD 490/MT FOB Iran to North Africa region with 50% downpayment. Bid submission due date for the same was 6 Dec’17.
As per market sources, “ESCO was expecting a target price at around USD 475/MT FOB. But due to increase in scrap Price and unavailability of spot billet in the region, ESCO was able to close the deal for USD 490/MT.
KSC traded 29,000 MT in IME
KSC offered 5000 MT 5SP bloom for Feb 2018 delivery for around USD 427/MT excluding 9% VAT, but the sales happened for 9000 MT on same price for same delivery period and 20,000 MT 5SP bloom for USD 435/MT excluding 9% VAT for January 2018 delivery.
Inputs taken from Planner
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