Iranian billet export prices surged in a couple of billet tenders concluded for China floated for 60,000 t (30,000 t each). The tenders fetched the price level of $559-560/t, FoB, up by $10 against previous bookings. It was foreseeable that Iranian mills were likely to sell sizeable quantities post-Iranian New Year holidays (Nowruz).
Deals & Offers-
- KSC concludes billet and slab export tenders: Khouzestan Steel Company (KSC), Iran’s leading steel exporter, concluded its billet and slab tenders floated for 60,000 t (30,000 t each). According to SteelMint sources, the company achieved a price level of $560/t, FoB for billets and $635/t, FoB for slabs.
- ESCO booked 30,000 t billet through tender: One of the prominent steel exporters of Iran reportedly sold 30,000 t billets to China at $559/t, FoB for June ’21 shipments, through a tender.
- On the other hand, Chadormalu held its 30,000 t billet export tender for this week and likely to schedule by next Iranian week, SteelMint learned from the official.
Continuous rising Chinese domestic billet prices are fetching the billet imports: The domestic billet prices are currently hovering at a twelve-and-a-half-year high level due to imposed production restrictions on environmental concerns. Owing to this, the prices of commonly traded Q235 billet 150mm diameter in Tangshan reached RMB 4,800/t ($732/t), including 13 % VAT.
Iran’s domestic demand opens flat after Nowruz: The domestic billet demand continues to remain steady in the second week of the current Iranian year, started from 21 Mar ’21. However, last week no trades were witnessed at the Iranian Mercantile Exchange (IME) amid Nowruz. According to SteelMint sources, this week, around 93,400 t billets traded at an average price of IRR 107,057/kg ($413/t).
Leave a Reply