Iranian billets export prices have seen a sharp decline on falling Chinese futures and weak global demand. Billets prices in Iran have fallen to around six-months-lows, as per data maintained with SteelMint.
SteelMint’s price assessment for Iranian billets exports (150*150 mm, 3sp, BOF route) stands at $600/tonne (t) FOB, down by around $20/t w-o-w
In the current week, no firm deal for exports has been recorded by SteelMint so far. Also, mills have kept away from offering material for exports amid lowering bids and fluctuating Chinese steel futures.
According to data maintained with SteelMint, the Chinese rebar futures contract for Jan’22 delivery on the Shanghai Futures Exchange closed at RMB 4,169/t ($653/t), a d-o-d decline of RMB 47/t ($7/t) on 18 Nov’21 and also down by RMB 274/t ($43/t), w-o-w.
Domestic billets trade on IME falls further: Domestic billets sales on the Iran Mercantile Exchange (IME) decreased by around 7% w-o-w with a 2% decline in the average price. Around 105,110 t of billets were traded in the last one week at an average sales price of 136,581 Rial on IME, as per data maintained with SteelMint.
Last week, around 113,200 t of billets were traded at an average sales price of 139,227 Rial on IME.
Leave a Reply