This week, Iranian billet export market remained silent with drop in offers. Corono virus outbreak and acute fall in Turkey’s imported scrap prices attributed to weak market sentiments and hence drop in billet export offers from the country.
Imported scrap prices to Turkey continue to move down further, as another couple of deals concluded recently were confirmed today. Buyers in Turkey were already bidding at lower price levels since the last few days, while continued weak steel sentiments suggest that further downslide in offers are expected in the coming days.
SteelMint assesment for billet export offers from Iran is at USD 375-380/MT, FoB Iran, down USD 5-10/MT against last week.
While that for USA origin HMS 1&2 (80:20) stands at USD 255/MT CFR Turkey, down USD 12-14/MT against earlier this week.
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