Iran: Steel mills await tender outcomes for semis' exports

The Iranian steel billet and slab export market has remained less active, awaiting outcomes of tenders floated recently, SteelMint noted.

• Chadormalu floated an export tender for 30,000 tonnes (t) of steel billets with the due date being 6 September. The tender was heard to have been cancelled with bids being received at around $450/t FOB.
  
  
• Meanwhile, Khouzestan Steel Company (KSC) floated export tenders for 40,000 t each of steel billets and slabs. The shipments are likely to be scheduled for October.
  
  
• Mobarakeh Steel Company (MSC) floated an export tender for 20,000-30,000 t of steel slabs. The due date for the tender is 9 September, 2022 and the shipment is scheduled for end-October.
  
  

SteelMint's latest assessment of Iran's billet (3SP) export prices stood at around $464/t FOB on 6 September, a marginal increase of around $6/t, w-o-w.

Domestic billet prices up, rebar prices inch down

Domestic billet prices in Iran have increased amid declining stocks while rebar prices have dropped owing to weak demand in the market, sources informed SteelMint.

Domestic trade on IME up w-o-w

Domestic billet sales on the IME rose 13% w-o-w. However, the average sales price witnessed a slight decrease of 2%.

Around 153,100 t of billets were traded on IME in the week under review at an average sales price of 123,287 Rial. Last week, about 135,900 t of billets were traded at an average sales price of 125,402 Rial.

Outlook

Traders are likely to get better clarity on Iranian semi-finished steel export prices after the tender outcomes.