Esfahan Steel Company (ESCO), one of the leading steel exporters in Iran, recently sold 30,000 t of steel billet to China through an export tender, as per sources. The company concluded the tender at $650-655/t on FoB basis for Sep’21 shipment. Iranian billet export prices are rallying on active Chinese buying and power outages in Iran. Notably, the vessel freight rate from Iran to China stands around $50/t.
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