Iran, one of the leading billet exporters, has gradually resumed export bookings of this material after a gap of almost one month. It may be recalled that mills, plagued by limited allocations due to power outages, had almost fallen silent in terms of export offers.
According to credible sources, an Iranian mill has concluded an export tender for 20,000 t of steel billets. The tender was concluded at around $625/t FOB Iran and the shipment is scheduled for Oct’21, sources confirmed.
SteelMint’s bi-weekly assessment of Indian billets (150mm, 3SP/4SP) exports stood at $625/t FOB on 31 Aug’21. However, other major Iranian mills are yet to float billet export tenders, SteelMint understands.
Last week, the Mining Industries Office of the Government of Iran, revoked its earlier stand and lifted the restrictions barring around 84 steel mills from exporting long steel products. Iranian Steel Producers Association (ISPA) voiced protests against the sanctions on exports which saw several mills getting out of the exports purview.
Domestic billet trade volumes on IME up 13% w-o-w: Domestic steel sales on the Iran Mercantile Exchange (IME) increased 13% w-o-w on fallen average price. Around 107,300 t of billets were traded in the last one week at an average sales price of 135,699 Iranian Rial on the IME, as per data received by SteelMint.
Around 94,700 t of billets were traded in the last one week at an average sales price of 142,704 Iranian Rial on the IME, as per data received by SteelMint.
Iran mill concludes slab export deal: At the beginning of this week another Iranian mill was sold another 40,000 t of slabs through an export tender. According to sources, the company concluded the tender at $690/t FOB Iran. The shipment is likely to be scheduled for end-Sept’21. Iranian slab export prices have fallen by around $15/t compared to prices seen at beginning of August.
Iran’s leading steel exporter, Khuzestan Steel Company (KSC) plans to implement three large designs of wide slab casting machines. According to Chilan online, the complete accomplishment of the project will lead to the production of 1.2 mn t pa of wide slab use in alloy and construction steel.
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