This week, the Iranian billet export market remained silent to maintain the supply parity in the domestic market. During a conversation with SteelMint, a market participant mentioned- the Iranian government wants to control the prices in the domestic market and hence asked the mills to increase the supply in the domestic market to discover the prices legitimately.
To discover the real market prices and to maintain transparency, the Iranian government is likely to offer a complete steel chain supply at IME (Iranian Mercantile Exchange). The Industry, Mining, and Trade Ministry has set up a joint committee with some other executive bodies to follow up on this issue.
Domestic billet prices witness a rebound at IME: This week, the domestic billet prices reported a rebound in a recent trade event hosted at the IME. According to SteelMint sources, approximately 187,000 t billets were traded at an average price of IRR 101,460/kg ($378/t), up by IRR 5,676/kg ($32/t) w-o-w.
Khorasan Steel Company floats 20,000 t billet export tender: One of Iran’s leading steel exporter has floated an export tender for 20,000 t billets (150*150mm). The shipments are likely to be scheduled by Dec’20 for delivery.
“Major Iranian mills have not opened fresh billet export tenders this week. However, the indications are firm around $410-415/t, FoB. Few slab export tenders are expected to be floated next week”, highlighted a market participant from a major Iranian mill.
SteelMint assessed Iranian billet export offers to be at $410-415/t, unchanged against last week.
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