Iran’s billet export prices remained broadly stable in a recent deal concluded by Khouzestan Steel Company, a leading steel exporter. According to SteelMint sources, the company booked 30,000 t billets through a tender at $550/t, FoB Iran. The shipment is likely to be scheduled for Apr ’21 with SE Asian nation as the likely destination.
While another leading steel exporting mill – Chaodormalu is negotiating its export tender floated for 30,000 t billets.
SteelMint’s bi-weekly assessment for Iranian billets is currently at $545-550/t, FoB down by $5 against last week.
Exports of major Iranian mills fall 12% y-o-y: Meanwhile, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) released the export statistics of major Iranian mills. It shows a 1% y-o-y fall in export volumes during the 11th month (Feb-Mar ’21) of the current Iranian year and a 12% decline during the first 11 months (20 Mar ’21- 20 Feb ’21) to reach 0.69 mn t and 6.11 mn t respectively.
With around 1.36 mn t of semi-finished steel exports, Khouzestan Steel Company (KSC) remains the biggest exporter during the period under consideration.
Domestic billet demand decrease: This week, the Iranian Mercantile Exchange witnessed limited trades amid decreased demand. According to SteelMint sources, approximately 55,000 t billets were traded at an average price of IRR 107,074/kg ($433/t), up by IRR 986/kg ($4/t). The offered quantity was around 94,000 t.
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