Recent trades have pushed up Iranian billet export offers by $10-15/t against last week. An Iranian mill was reported to book 30,000t billets to China. The deal value was noted to be $370/t, FoB Iran, and the shipment is scheduled for Jul’20. After this deal, the mills have raised the offers and are aiming $375-380/t, FoB levels.
However, during the conversation with SteelMint, a market participant mentioned “deals at $380/t, Fob price levels are very challenging to get since steel futures in China have declined. In fact, in the current situation, $370/t, FoB levels also seems little difficult to get”.
SteelMint’s assessment for the billet export offers from Iran is at $365-375/t, FoB Iran, up $10-15 against last week.
KSC floats 60,000 MT billet & slab export tender- Khouzestan Steel Company (KSC) – Iran’s major steel exporter has invited tender for export of 30,000 MT billet and 40,000 MT slab. The delivery schedule for the billet is early Aug’20. The company closed its previous billet export tender at around USD 365/MT, FoB levels and is eyeing for price levels of USD 370/MT FoB in the current tender.
Domestic billet prices up in Iran – Meanwhile, the domestic billet prices in Iran have also witnessed a rise. This week, approximately 78,000 t billets were traded at Iranian Mercantile Exchange with an average price of IRR 56,820/t, up IRR 1272, against last week. According to market sources reported to SteelMint, the price rise was primarily due to the due to the demand-supply disparity.
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