Iranian Domestic Billet Price continue to rise

 “High global market price of billet is one of major reason that pulled up the domestic price in Iran”

Iranian domestic billet price continue to rise in week 51 (16-Dec to 21-Dec’17), the market opened on Saturday with USD 465/MT. Prices went up to USD 470/MT on next day and witnessed a further hike on Monday by reaching USD 472/MT. Iran domestic billet price reached USD 476/MT towards the end of the week.

As per market sources “High global market price of billet is one of major reason that pulled up the domestic price in Iran. Also demand for finished steel products was very good, rebar was traded between USD 518-535/MT during the period which in turn increased the demand of billet and resulted to increase in billet price as well.”

Scrap was traded at around USD 350/MT in Iran during the starting of week 51 and reached up to the level of USD 359/MT towards the end of the week. The difference between scrap and billet was noted to be around USD 115-117/MT during the period.

On other hand, rebar in Iran was traded at around USD 518/MT on Saturday. Prices went up to USD 535/MT towards the end of the week. There was a margin of USD 53-59/MT between billet and rebar during the period.

Source: Planner

KSC and ESCO Sold Billet in IME

Khouzestan Steel Company (KSC) sold 10,000 MT billet in Iran Mercantile Exchange on 25 Dec’17 for IRR 19,800/KG (USD 475/MT) for late Feb’18 delivery. On parallel lines, Esfahan Steel Company (ESCO) also traded 5,000 MT billet in IME for IRR 19,400/KG (USD 465/MT) for late Jan’18 delivery.

KSC Billet and Slab Export Tender

Khouzestan Steel Company (KSC) has invited tender for export of 30,000 MT billet and 40,000 MT slab for early Mar’18 and Feb’18 shipment respectively. The due date for bid submission is 27 Dec’17 till 18:00 hrs.

Input taken from Planner