Iran, one of the largest billet exporter in MENA is currently facing sanctions from US, owing to which the billet export offers in Iran is falling continuously. Iranian billet export offers has declined further by USD 5/MT to USD 385-390/MT FoB. Last week, billet export offers of Iran were noted to be around USD 390-395/MT FoB.
As per SteelMint assessment, recently, a major Iranian steelmaker has closed an export deal to UAE at USD 420/MT CNF. Currently, major Iranian steelmakers are quoting billet at USD 390/MT FoB. According to market expert from Iran, “Iranian steelmakers are eager to sell their cargoes at lower prices also, some private steelmakers are offering their billet at USD 360-365/MT FoB too.”
Iranian Domestic Billet Offers
As per SteelMint’s assessment, domestic billet offers during the beginning of week 50 (08 Dec-13 Dec’18) was noted to be around IRR 31,690/KG (USD 755/MT). On next day, offers decreased further to IRR 30,660/KG (USD 730/MT). During the mid-week, offers went down to IRR 29,600/KG (USD 705/MT). Towards the end of week billet offers dropper further by USD 50/MT, in domestic market offers were noted to be around IRR 27,380/KG (USD 652/MT).
Global Billet Export Offers Moved Down Futher
CIS billet export offers have weakened by USD 5-10/MT further and is assessed in the range of USD 410-420/MT, FoB Black Sea.
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