Iranian billet export prices further up in recent deals

Iran's billet export prices rose by around $12-15/tonne (t) w-o-w in recent deals concluded. A few deals have been reported this week at high offers.

• An Iranian mill concluded an export deal for 30,000 t of steel billets (130*130mm, 3SP) at $602/t FOB.
  
  
• Another deal for 30,000 t of billets (150*150mm, 3SP) was concluded at $605/t FOB.
  
  
• A major steelmaker from iran also concluded a high grade billet (wire rod making grade) deal for around 20,000 t to a GCC country at $620/t FOB this week.
  
  

SteelMint's latest assessment of Iranian billets (3 SP) exports increased by around $12-13/t w-o-w to $603/t FOB on 15 Feb'22.

"We may come up with a billet export tender next week. However, our expectations are at around $610/t FOB," highlighted a source from a leading Iranian mill.

Iran domestic billet prices stable, rebar up

Iran's domestic billet prices remained stable while rebar prices witnessed an upward trend due to hike in prices at the Iran Mercantile Exchange (IME) along with rising global prices of rebar, sources informed SteelMint.

Domestic billet trade up sharply by 34% on IME

Domestic billet sales on the Iran Mercantile Exchange (IME) increased sharply by 34%, along with a 1% w-o-w increase in the average price.

Around 161,400 t of billets were traded on IME in the past week at an average sales price of 130,713 Rial. Last week, about 120,050 t of billets were traded on the IME at an average sales price of 129,412 Rial. The easing of power curbs has improved offered quantity.

Outlook

The export volumes of billets and blooms in the first 10 months totalled 3.9 mnt, unchanged y-o-y, according to latest data released by the Iranian Steel Producers Association (ISPA). With easing of power curbs, Iranian billet export allocations may increase further.