Iranian billet export prices surged further in recent deals concluded for China and SE Asia. Two leading steel exporters of Iran reported having sold 50,000 t billets through a tender. With these deals, the Iranian billet export prices rose by $10, w-o-w to reach new highs.
Deals and offers:
- Chadormalu sold 30,000 t billet for China: One of Iran’s leading steel exporter Chadormalu Mining and Industrial Company, sold 30,000 t billets through an export tender at $580/t, FoB for end-May ’21 shipments with China as likely destination.
- ESCO booked 20,000 t billets for SE Asia: Another leading exporter Esfahan Steel Company reported having concluded its 20,000 t billet export tender at $579/t, FoB for Jun ’21 shipments with SE Asia as likely destination.
The buyers preferred Iranian billets as their offers were reasonable compared to Russian and Indian billets. For instance, Indian billet offers are currently at $595/t, FoB. While offers from Russia (far Eastern port), were heard at around $590/t, FoB.
SteelMint’s bi-weekly assessment for Iranian billets is currently at $580-585/t, FoB, up by $10-12 w-o-w.
Iran’s key steel exporter- KSC has not floated any new billet export tender this week. However, the company has floated an export tender for 30,000 t slabs for June shipment, SteelMint learned from credible sources. The company is likely to conclude the tender by 19 Apr ’21.
Iran’s semi-finished steel exports fell by 12% y-o-y during the first 11 months of the last fiscal: Iranian semi-finished steel exports recorded a y-o-y drop of 12% during the first 11 months of the last Iranian year (20 Mar ’20 – 20 Mar ’21) to reach 5.6 mn t. The billet/bloom exports stood at 4.2 mn t, down by 5% y-o-y, while the slab exports witnessed at 1.37 mn t, down by 28% y-o-y.
The finished steel exports also saw a decline of 19% y-o-y to reach 2.64 mn t.
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