Iran’s billet export market remained active this week with prices increasing in recently-concluded deals. Supported demand from Gulf Cooperation Council (GCC) has lent support to billet export prices, SteelMint understands.
- An Iranian mill has concluded an export deal for 40,000 t of steel billets, sources informed SteelMint. The deal was concluded at $479/t FOB and the shipment is scheduled for Dec’22.
- In another deal, an Iranian mill sold 30,000 t of BF-route steel billets at $480/t FOB.
SteelMint’s latest assessment of Iran’s billet (3SP) export prices stood at around $480/t FOB on 18 October, up by around $15/t w-o-w.
Steel exports down, production up in March-September
Iran’s billet and bloom exports in the first half of the current Persian year (March-September) registered a 6% fall y-o-y to 2.19 mnt. On the other hand, production stood at 9.36 mnt in the period under review, up 21% y-o-y, according to data released by the Iranian Steel Producers Association (ISPA).
Domestic billets, rebar prices stable
Iran’s domestic billets and rebar prices remained unchanged owing to limited trading activity as market participants are still in a wait-and-watch mode amid ongoing social unrest in the country, sources informed SteelMint.
Outlook
Iran’s steel billets export prices are expected to remain supported in the near term. Meanwhile, futures trade-related activities also depend on the results of the current political negotiations.
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