Iranian billet export market was reported trade active, for the third consecutive week of May’20. The two billet export majors; SKS and KSC were noted to book approximately 60,000 MT billets (30,000 MT each).
– KSC concluded a 30,000 MT billet export deal to SE Asia at USD 350/MT FoB for Jun’20 shipment. The deal was concluded towards the beginning of this week.
– Following this the company has issued a fresh tender for 30,000 MT billets for Jul’20 shipment. The tender is yet to be concluded. The company is aiming to conclude the tender at USD 360-365/MT, on FoB Iran basis.
– SKS has concluded a deal for 30,000 MT billet to China at USD 350/MT, FoB. The deal was concluded towards the beginning of this week.
SteelMint assessment for billet export offers from Iran is at USD 345-350/MT, FoB Iran, up USD 3-5/MT, against last week.
Iranian billet prices in the domestic market surge – Meanwhile, the domestic billet prices in the country have gone up sharply, after witnessing a couple of disappointing weeks. Yesterday; on 20 May’20, approximately 67,000 MT billets were reported to be traded on IME; Iranian Mercantile Exchange, at an average price of IRR 51340 /kg, up IRR 2930/kg, against the last average traded price.
The Iranian government had canceled all the billet bookings, happened during the past two weeks, as the mills concluded the billet deals at higher price levels than the guidelines set by the government, SteelMint learned from trade sources.
Leave a Reply