Iran Billet Export Prices Fall in Recent Deal

Global billet export prices continue to remain under pressure amid limited trades and falling scrap offers.

Khouzestan Steel Company (KSC) - one of the leading exporters of Iran has concluded a billet export deal via tender, couple of days back. The deal quantity is of 30,000 MT for size 150*150 mm, 3sp grade for Mar'20 shipment. The deal value was reported to be around USD 385/MT, FoB Iran, as per sources. Destination of the cargo booked could not be confirmed as material was heard to have booked by traders.

But current SteelMint's billet export assessment has come down further and stands at USD 380-385/MT, FoB Iran amid escalated political tensions with U.S. supported by New Year holidays in China. SteelMint's assessment for Iran billet export has come down by around USD 10/MT W-o-W and USD 20-25/MT M-o-M.

Amid escalated trade tensions, few market participants indicated that trades with Iran may have slowed down.

As per Financial Tribune, Iran's billet and bloom exports were recorded at 2.95 MnT to book a Y-o-Y growth of 48%, during the first eight months of current Iranian year (March 21- November 21). While semi-finished steel exports were recorded at 4.37 MnT to book the share of 64.45% in exports volume.

Meanwhile, KSC has registered itself as the Iran's largest steel exporter during the same period under consideration with 1.12 MnT of steel exports.