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Iran: Steel billet export prices range-bound in recent deal

Iran’s steel billet export prices edged up by $3/t w-o-w to $493/t FOB in a recent deal concluded. SteelMint learnt from sources that a leading Iranian mill &am...

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22 Jun 2023, 19:19 IST
Iran: Steel billet export prices range-bound in recent deal

Iran's steel billet export prices edged up by $3/t w-o-w to $493/t FOB in a recent deal concluded. SteelMint learnt from sources that a leading Iranian mill - ESCO - has closed an export deal of 50,000 tonnes (t) of billets this week at $493/t FOB.

Meanwhile, billet import price indications in the Philippines were also stable w-o-w at $520/t.

Other factors keeping billet export prices range-bound-

  • China billet prices down marginally amid holidays: Domestic billet prices in China's Tangshan moved down slightly by RMB 30/t ($4/t) w-o-w to RMB 3,540/t ($493/t), including 13% VAT, on 21 June owing to Dragon boat holidays. The fall in finished steel prices and rebar futures weighed on billet prices.

  • Turkiye scrap import prices inch down: Turkiye's imported scrap prices saw a nominal change w-o-w. According to SteelMint's latest assessment, HMS 1&2 (80:20) prices from the US moved down by $7/t w-o-w to $380/t CFR Turkiye.

IME's billet sales fall w-o-w

Domestic billet sales on the Iran Mercantile Exchange (IME) fell by 20% w-o-w and the average sales price dropped by 1% w-o-w.

Around 102,780 t of billets were traded on the IME in the week under review at an average price of 204,720 Rial. Last week, about 129,145 t of billets were traded at an average price of 207,432 Rial.

22 Jun 2023, 19:19 IST

 

 

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