Iranian billet export offers fall on low liquidity and falling global prices. Last offers for 150 mm square billet was assessed at USD 480-485/MT FOB Iran (from large mills) and USD 440-450/MT FOB Iran (from small mills).
Local traders mention that trade activities remain low owing to Chinese holidays and liquidity issues which has lead a price fall in domestic market.
“Current billet export offers from Esfahan Steel Company also know as ESCO are heard to be in the range of USD 480-485/mt FOB. However no trade has been reported in last few days. People are waiting for Chinese market to re-open so that they can get a price direction.” said a trader and exporter based in Tehran, Iran.
Iranian steel billet has been quietly gaining market acceptance in Southeast Asia because of its low prices and good quality.
The country exported 5.53 MnT of steel products during the Iranian year ended March 20, 2017, of which 3.74 MnT consisted of semi-finished products.
It aims to increase its steel exports to 8 MnT in the current Iranian year, which ends on March 20, 2018 and about 15 MnT by 2022.
Billet export offers across the world are assessed at
1. USD 490-500/MT FOB Black Sea
2. USD 490-500/MT FOB India Main Port
3. USD 515-520/MT FOB China Main Port
4. USD 515-520/MT FOB Vietnam
5. USD 525-535/MT CFR South East Asia
6. USD 510-515/MT CFR Egypt
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