Hike in global billet export offers and tight billet availability in Iran continues to drive up Iran billet export offers.
Major billet producer- Khouzestan steel company has concluded billet export tender for 30,000 MT billet of size 150*150mm and 3SP grade. According to sources, the company has concluded the tender to East Africa and the deal value was reported to be around USD 400/MT, FoB Iran. The shipment is schedule for end Feb’20. With this deal billet export offers from the country has rose by USD 10/MT, against last week
Also, during conversation with market participant, SteelMint learnt that, the company may float another tender of same quantity by next week i.e. during 23-28 Dec’19 for early march shipment.
SteelMint assessment for Iranian billet is standing at USD 395-400/MT, FoB Iran. Also, rising Turkey’s imported scrap prices are supporting the market sentiments of the country.
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