This week, Iran billet export market resumed trades after remaining silent last week due to holidays. One of the leading billet exporter of the country; KSC was reported to conclude a billet export tender. The tender was floated for 30,000 MT quantity and the shipment is scheduled for May’20. According to sources reported to SteelMint, the company has concluded the tender at around USD 350/MT FoB Iran basis and the destination was noted to be some GCC country.
SteelMint also learned, because of GCC proximity the deal managed to fetch the higher price. Vessel freight rate from Iran to Oman is around USD 20/MT. It is also worth noting that GCC countries have been importing billet at USD 360/MT, CFR levels in current market conditions, a market participant reported to SteelMint.
However, SteelMint’s assessment for Iran billet export offers is at around USD 330/MT, FoB Iran, down approximately USD 20 against last week.
Leave a Reply