Billet price experienced some fluctuations during week 44 in Iran. Market opened in Saturday with the average price of around USD 468 to USD 478 depending upon the quality of billet. The price went down to around USD 440 to 457/MT by the end of week.
As per market sources “ The IF billet producers hold their offers steady from Wednesday at about USD 440 to 457/MT since the scrap maintained its level. KSC offer billet at USD 480 to 485 (inclusive of 9% VAT), since IF billet producers offer lower quality so they are offering billet at lower price”
Recently, KSC sold 15,000 MT of Steel Bloom 5SP for around USD 485/MT (Inclusive of 9% VAT). Foolad Kaveh Jonoob Kish sold Bloom for around USD 470/MT(Inclusive of 9% VAT).
Khouzestan Steel Company (KSC) – Iran’s largest steel exporter had invited tender for export of 30,000 MT billet for December shipment and 40,000 MT slab for end November or early December shipment. Bid submission due date for the same was 20 Oct’17 at 18:00 hrs. as per Iranian local time.
Billet Tender Concluced at USD 472-475/MT
As per market sources of SteelMint, KSC billet tender concluded at USD 472-475/MT FoB likely to be shipped to gulf countries, Quantity exceeded from 30,000 MT and was booked for 40,000 MT.
Country is not specified but the cargo will be shipped to gulf countries at around USD 485 to 490 CFR as per sources.
Slab Tender Concluded at USD 470/MT
As per market sources of SteelMint, KSC sold 60,000 MT slab at USD 470/MT, FoB. Cargo likely to be shipped to Far East countries like Taiwan etc.
Source: Inputs taken from Planner
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