Iranian billet export prices are up and ticking after every deal. It was the third consecutive week when prices surged.
In a recent export deal concluded early this week, Iran’s leading steel exporter reported having fetched a price level of $555-560/t, FoB. The deal was concluded through a tender, floated for 30,000 t billets (150*150mm). The shipment is scheduled for end-Mar ’21 with China as the likely destination.
Another leading Iranian steel exporting mill, Esfahan Steel Company (ESCO), has concluded an export tender floated for 20,000 t billets towards mid of last week. According to SteelMint sources, the company concluded the tender at $550-552/t, FoB Iran. The shipment is scheduled for end-Mar ’21, with an African nation as the likely destination.
Chadormalu is likely to float an export tender for 30,000 t billets by next week, SteelMint learned during conversations with an official.
With these deals, Iranian billet export prices registered a surge of $10-15. SteelMint’s bi-weekly assessment for Iranian billets is currently at $550-560/t, FoB.
IME reported over 94,000 t billet trades: This week, the Iranian Mercantile Exchange (IME) reported 94,400 billet trades. According to SteelMint sources, amid rising demand, the average trading price has registered a rise of IRR 1,727/kg ($7) to reach IRR 104,579/kg ($415/t).
The offered quantity was 114,135 t, while the base price was IRR 103,021/kg ($408/t).
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