Iran Billet Export Market Remains Silent Amid Eid Holidays

This week, Iranian billet export market was reported hushed. No deals were witnessed and mills are in no rush to conclude October deals. Also, country's billet export offers are standing still at USD 385-390/MT, FoB identical as last week. The prime reason for the market reticence is Eid Festivity.

Although, towards end of the last week, Khouzestan Steel Company (KSC), one of the leading exporters of the country concluded a billet export tender of quantity 40,000 MT of size 150*150 mm and 130*130 mm for early Oct'19 shipment. As per market sources, the deal value was reported to be USD 387/MT, FoB Iran.

Turkey imported scrap prices inched down - SteelMint learned from industry participants that Turkish imported scrap market witnessed limited trades, reason being the same; Eid festivity. SteelMint's assessment of US-origin HMS 1&2 (80:20) scrap inched down to USD 285-287/MT, CFR Turkey against the last week report of USD 288-289/MT, CFR. While assessment of European origin HMS 1&2 (80:20) stands at USD 278-280/MT, CFR Turkey.