Iran Billet Export Prices Remain Stable

This week Iranian billet export offers were reported stable amid rising and strong domestic demand supported by positive correction in Turkey's imported scrap prices. The event has made the Iranian mills loath for any further negative correction in billet export offers.

KSC floats billet & slab export tender - One of Iran's leading billet exporter of the country- KSC has recently floated a billet export tender for billet and slab of quantity 30,000 MT each. The billet shipment is scheduled for end Mar'20 while for slab it is scheduled for end Apr'20. Company is eyeing for the price levels of USD 382/MT, FoB Iran for billet and USD 385/MT, FoB Iran for slab.

SteelMint assessment for billet export offers from Iran is at USD 375-380/MT, FoB Iran, identical as last week.

Imported scrap prices to Turkey have successively moved up by another USD 15/MT on a weekly basis. With mills now actively procuring for March shipment, the market is expected to remain strong in the coming days.

SteelMint's assessment for the USA origin scrap HMS 1&2 (80:20) stands at around USD 275/MT CFR Turkey, increasing by USD 15/MT against price level reported last week closing.