Iran's billet export prices remain stable as market awaits tender results

Iran's billet export market remained subdued this week. Billet suppliers are trying to float tender for remaining volumes for December shipment at the same level as that of previous month. Billet demand is limited as some were done with non-key outlets, such as Africa and Turkiye, SteelMint notes. Deals are expected by the end of the week.

Meanwhile, Khouzestan Steel Company (KSC) had floated an export tender of 30,000 t for billets and slabs each last week. The tender is yet to conclude and market participants are awaiting the result to get more clarity.

Esfahan Steel Company (ESCO) sold 30,000 t of billet at $470/t FOB. The shipment for the tender is scheduled for end- December, as per sources informed.

As per SteelMint's latest assessment of Iran's billet (3SP) export prices remained stable at $470/t FOB on 9 November.

Domestic billet prices edge up, rebar prices fall

Iran's domestic billet prices increased marginally amid rise in DRI prices in Iran Mercantile Exchange (IME) while rebar prices dropped due to weak demand in the market, sources informed SteelMint.

Billet sales on IME head south

Domestic billet sales recorded a fall of 5% w-o-w basis and average sales price on the IME stood largely stable on this week.

Around 148,965 t of billets were traded on the IME in the week under review at an average sales price of 186,315 rial. Last week, about 157,500 t of billets were traded at an average price of 188,011 rial.