This was the consecutive week, when country’s billet export offers have gained a rise in a recent deal. The country is reported to book billets to Indonesia in recent, market sources reported to SteelMint. According to sources, Iran booked 30,000 MT billets at USD 365-370/MT, FoB Iran. With this deal the billet export offers from the country has surged by USD 10/MT. SteelMint assessment for Iranian billet are standing at USD 370-375/MT, FoB Iran.
Increasing Turkey’s imported scrap prices 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. According to Iran based marketer, production cuts and scrap import restrictions are expected to drive the billet exports from Iran.
As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap has inched up marginally by USD 2-3/MT W-o-W and stands at USD 263/MT, CFR Turkey, against the last report. The assessment of European origin HMS 1&2 (80:20) now stands at around USD 258/MT, CFR Turkey.
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