Iranian Billet Export Offers Remain Range-Bound Despite Ongoing Political Tensions

This week, SteelMint's assessment for Iranian billet export have inched down slightly by USD 5/MT W-o-W. Current assessment for 150*150mm billet export from Iran stands at USD 400-405/MT, FoB basis.

KSC floats 30,000 MT billet export tender - Iran's biggest steel exporter-Khouzestan Steel Company has floated tender for export of 150*150mm billet (5 sp grade) for March shipments. As per sources report to SteelMint, company is eyeing for levels of USD 405/MT, FoB. The company's steel exports were recorded at 1.26 MnT during the first eight months of current Persian year, as per reports.

Few other Iranian sources indicated that, right now, the shipping lines are more threatened due to this event and rise in shipping prices could be the first effect is expected to be witnessed in near future. And probably if the tensions between US and Iran heighten further, the next thing happening would be the low down of shipments from Iranian steelmakers. But as of now, the earliest time of shipment is by Mar'20 which indicates the allocation is still on at least for another month.