Iranian billet export market reported trade active this week. The country is reported to book billets to SE Asia in recent, market sources reported to SteelMint. According to sources, the country concluded the deal at USD 360-365/MT, FoB Iran for Jan’20 shipment. However the deal quantity could not be confirmed at the time of publishing this report.
With this deal the billet export offers from the country rise marginally. SteelMint assessment for Iranian billet are standing at USD 360-365/MT, FoB Iran, up USD 5/MT against last week.
Backed by Turkey’s imported scrap prices and production curbs in China are keeping the billet export market of the country supported. Also, restriction on scrap imports in China is expected to billet imports in the country.
China’s semi-finished steel surged in Sep’19 amid scrap ban. On 1st Jul’19, China’s Ministry restricted imports of scrap with importers requiring proper permits. This was done in order to further standardize the management of solid waste imports, and to prevent, control and reduce environmental pollution.
Currently domestic billet prices in China’s Tangshan is at RMB 3,360/MT including VAT.
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