Iranian billet export market remained silent and broadly stable amid the Persian New Year holidays (Nowruz).
However, just before the holidays, Chadormalu booked 30,000 t billets through a tender at $542/t, FoB Iran. The shipment schedule is for Apr ’21, with China as the likely destination.
We did not witness mills actively offering for the export market for this week. During conversations with a couple of mills, SteelMint learned that due to Nowruz, the mills have scheduled their tenders for next week.
However, Iran’s leading steel exporter, Khouzestan Steel Company (KSC), has floated an export tender for 30,000 t billets (150*150mm). The shipment is likely to be scheduled for May’21. The company is expecting the price to be in the range of $550-555/t, FoB.
SteelMint’s bi-weekly assessment for Iranian billets is $550/t, FoB, up by $5 w-o-w.
Domestic trades remain absent amid holidays – On the other hand, the Iranian Mercantile Exchange (IME) did not host a trade event this week because of the prevailing holidays of Nowruz.
Semi-finished steel production of major Iranian producers crosses the 20 mn t mark: The semi-finished steel production of major Iranian producers stood at 20.43 mn t during the first 11 months of the current Iranian year (20Mar ’20 – 20Feb ’21), up by 7% y-o-y. While, the finished steel production was recorded at 13.34 mn t, up by 3% y-o-y.
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