Iran Billet Export Prices Climb by USD 10 in Recent Deal

Hike in global billet export offers and tight billet availability in Iran continues to drive up Iran billet export offers.

Major billet producer- Khouzestan steel company has concluded billet export tender for 30,000 MT billet of size 150*150mm and 3SP grade. According to sources, the company has concluded the tender to East Africa and the deal value was reported to be around USD 400/MT, FoB Iran. The shipment is schedule for end Feb'20. With this deal billet export offers from the country has rose by USD 10/MT, against last week

Also, during conversation with market participant, SteelMint learnt that, the company may float another tender of same quantity by next week i.e. during 23-28 Dec'19 for early march shipment.

SteelMint assessment for Iranian billet is standing at USD 395-400/MT, FoB Iran. Also, rising Turkey's imported scrap prices are supporting the market sentiments of the country.