Iran’s steel billets export market remained silent this week with prices seeing a slight increase w-o-w. Low bids from the key importing nations, limited trades and pending political negotiations weighed on the export market.
Meanwhile, market participants are awaiting the outcome of the export tender floated recently. Khouzestan Steel Company (KSC) has floated export tenders for 40,000 t each of steel billets and slabs. The shipments are likely to be scheduled for December.
SteelMint’s latest assessment of Iran’s billets (3SP) export prices stood at around $465/t FOB on 11 October, up by around $3/t w-o-w.
“We are hopeful of getting bids of around $465-470/t FOB in the ongoing billets tenders,” shared a mill source.
Domestic billets, rebars prices fall
Iran’s domestic billets and rebars prices fell as buyers have adopted a wait-and-watch policy amid fluctuations in the exchange rate, sources informed SteelMint.
Outlook
Iran’s steel billets export prices are expected to remain supported in the near term. However, traders are likely to get better clarity on Iranian semi-finished steel export prices after the tender outcomes. Moreover, futures trading and market stability also hinge on the ongoing political negotiations.
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