Iranian billet export market continued to remain active for this week as well. One of the leading Iranian steel exporters reported having sold around 20,000 t billets for the MENA region. On the other hand, other major Iranian mills are likely to float billet export tenders by the next Iranian week, sources reported to SteelMint. An official of one of the leading steelmakers said- “we have a buyer at $594/t, FoB”. However, we could not confirm the deal status until the publishing time of this report.
Confirmed deals & Offers:
ESCO sold 20,000 t billets in the MENA region: Esfahan Steel Company, one of Iran’s predominant steel exporters, sold 20,000 t billets in the MENA region. According to the official, the mill achieved a price level of $585/t, FoB, up by $6 against previously concluded tender in the last week. The shipment is likely to be scheduled by June ’21.
“The export offers from the country are ranging from $587-592/t, subjected to tonnage and grade”, said a market participant.
SteelMint’s bi-weekly assessment for Iranian billets is $585-590/t, FoB Iran, up by $5 w-o-w.
Domestic billet prices rose sharply: In a recent trade event hosted at the Iranian Mercantile Exchange (IME), the domestic billet prices rose by IRR 6363/kg ($27) to reach IRR 117,892/kg ($487/t). The demand witnessed a significant increase post-Ramadan.
The semi-finished output of major Iranian mills rose by 8% y-o-y in the last fiscal: The heavyweight Iranian steel mills under the IMIDRO study collectively produced 22.54 mn t of semi-finished products in the last fiscal year, recording an 8% growth year-on-year. On the other hand, finished steel production of these mills jumped by 3% to reach 14.58 mn t. MSC remained the largest semi-finished steel producer at 9.84 mn t followed by KSC at 3.78 mn t and ESCO at 2.35 mn t.
Leave a Reply