Iranian billet export offers further witnessed a downfall in current week. Offers decreased almost by around USD 5/MT W-o-W to around USD 380-385/MT FoB. Last week, billet export offers of Iran were noted to be around USD 390-395/MT FoB.
As per SteelMint’s assessment, recently a major Iranian exporter has exported 25,000 MT at USD 385/MT to Gulf region.
As per one Iranian source, “The demand for Iranian billet has fallen down in line with the fall of CIS billet demand in global market. Scrap trade have also fallen down this week.”
Iran Domestic Billet Offers in Last Week
According to SteelMint assessment, during the beginning of week 8 (16-21 Feb’19) domestic billet offers were noted to be around IRR 40,300/KG (USD 468/MT). Offers went down on the next day to IRR 39,240/KG (USD 456/MT). Towards the mid of last week domestic offers of billet rose to IRR 41,550/MT (USD 482/MT) and remained stable till end of last week.
As per Planner, “Market is going up, partly due to seasonal demand and partly due to export by traders from domestic market. USD has been rising during the past 2 weeks. It is speculated that domestic offers would rise further after Nowrooz”.
Major Steel Mills Offered Billet in IME
South Kaveh Steel Company offered and sold 10,000 MT 5 SP bloom on 17 Feb’19 against the demand of 48,000 MT in IME at IRR 35,960/KG (USD 418/MT) excluding 9% VAT.
Khouzestan Steel Company offered and sold 30,000 MT 5 SP bloom on 18 Feb’19 against the demand of 119,000 MT in IME at IRR 38,516/KG (USD 447/MT) excluding 9% VAT.
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