Iranian Mill Books 40,000 MT Billets for Export; Prices Remain Stable

This week, the Iranian billet export market was reported trade active as the country books couple of billet lots to some East Asian country and China.

- A deal for 10,000 MT billet export was concluded for Jun'20 shipment. The deal value was reported at USD 345/MT, FoB

- In another deal reported for 30,000 MT billet for Jul'20 shipment at around USD 345/MT, FoB.

With these deals, the SteelMint assessment for billet export offers from Iran is now standing at USD 345/MT, FoB Iran, majorly stable against last week.

Post these deals, the mills are now targeting the price levels close to USD 350/MT, FoB, for fresh deals, trade sources reported to SteelMint.

Meanwhile, the Iranian domestic market was noted to have a disappointing week as no billet trades were reported over the Iranian Mercantile Exchange (IME). According to trade sources reported to SteelMint, the government has canceled all the billet deals during the week because the mills sold the billets at higher price levels than government