Billet export offers from Iran increased for the second straight week. Sizeable billet volumes were sold to SE Asia and China.
SteeMint’s assessment for Iranian billet has moved up by $5/t w-o-w to $400-405/t, FoB Iran.
Chadormalu and SKS booked 30,000 t orders each- Chadormalu Mining and Industrial Company and South Kaveh Steel (SKS) sold billet via tender at prices of $398/t and $395/t respectively, on FoB Iran basis. The schedule for shipments is by mid-Sep’20/end-Sep’20, with China the likely destination.
Khouzestan Steel Company 30,000 t billet export tender under negotiations– Iran’s leading billet exporter, Khouzestan Steel Company (KSC), has floated a billet export tender for 30,000 t for end-Sep’20/early Oct’20 shipments. The company is expecting price levels of $400-405/t, FoB Iran.
ESCO is still negotiating its 20,000 t billet tender and the result may come in next week.
Domestic billet prices at IME fall further by IRR 1,469/kg ($31/t)- Domestic billet prices in Iran are on a continuous decline due to slow demand. It was the second consecutive week that prices have fallen. According to SteelMint sources, approximately 80,800 t billets were traded at the Iranian Mercantile Exchange (IME) at an average price of IRR 73,768/kg ($364/t), down by IRR 1,469/kg ($31/t) from last week.
Iran steel exports witness 31% y-o-y decline– Iran steel exports have registered a y-o-y decline of 31% during the first four months of the current Iranian year (20 Mar’20-20 Jul’20). With 1.66 mn t of exports, semis captured ~75% share. Meanwhile finished steel exports stood at 0.57 mn t.
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