After concluding deal in Gulf region, last week, the country’s billet export market remained silent for this week. According to sources reported to SteelMint, majority of the mills in Iran are sold out and are not in hurry to conclude new deals.However, country’s billet export offers are reported stable.SteelMint assessment for Iranian billet is at USD 345-350/MT, FoB Iran.
Another reason for strengthened market sentiments in the country is increased Turkey’s imported scrap prices which have again moved up this week. This was the second consecutive week in which Turkey’s imported scrap prices have increased and has resulted in improving country’s billet export market sentiments.
As per SteelMint’s methodology, an assessment of US-origin HMS 1&2 (80:20) scrap has now climbed up to USD 244/MT, CFR Turkey, increasing by USD 10-11/MT against the closing of last week, while the prices have risen by USD 5/MT since the opening of this week.
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