Iranian Mill Concludes 20,000 MT Billet Export Deal; Offers Fall

An Iranian mill was reported to book approximately 20,000 MT billets to China recently. The value of the deal was noted to be between USD 345-350/MT, FoB Iran for 130*130mm size. However, soon after this deal, the billet export offers from the country witnessed a marginal fall. SteelMint assessment for billet export offers from Iran is at USD 340-345/MT, FoB Iran, down USD 5 against last week.

While on the contrary, the domestic billet prices in Iran were noted to have an increase. According to reliable trade sources reported to SteelMint, approximately 83,000 MT billets were traded at IME during the week with an approximate average of IRR 47,985/kg, up IRR 2000/kg (approx.) against last week.

Although marketers are expecting a rebound in Iranian billet export prices by the end of the week, as China resumes billet imports, immediately post-labor holidays. Yesterday the ex-mill, tax-inclusive price of Chinese square billet 150*150mm in Tangshan, Changli, and Qian'an were settled at RMB 3,110/MT, up RMB 10. Today it inched up by RMB 10 to report RMB 3,120/MT (ex-Tangshan, inclusive of VAT)