Iran Billet Export Offers Drop by USD 10

After concluding some deals to China and Far East last week, the country has lowered its billet export offers. According to SteelMint assessment, the billet export offers from the country dropped down to USD 340/MT, FoB levels, down USD 10/MT, against last week.

According to sources reported to SteelMint, this abrupt price drop in the billet export offers from the country is primarily due to CIS export offers; for some past three weeks, the prices of CIS and Iran were at the same level which increased the pressure on Iranian sellers to reduce the prices.

SteelMint's billet export assessment for Iran stood at USD 350-355/MT, FoB Iran last week.

Khouzestan Steel Company (KSC) - one of the leading exporters of Iran has concluded a billet export deal of quantity last week. The deal quantity is of 30,000 MT for size 150*150 mm and 130*130 mm for early Nov'19 shipment. As per market sources, the company has concluded the deal to Far East. The deal value was reported to be USD 355/MT, FoB Iran.