Iran's Esfahan Steel Issues 30,000 MT Billet Export Tender

Esfahan Steel Company (ESCO), one of the biggest steel exporter of Iran has invited tender for export of 30,000 MT billet for second half of Mar'18 delivery. Payment term is full cash in advance with 25% as down payment and remaining 75% after first written notice of cargo readiness in port. Partial shipment is not allowed. Details are listed below.

The due date for submission of firm bid is 08-Jan'18.

As per market source " ESCO is seeking the highest price, but we must see the current situation in billet market:.

Iran's Khouzestan Steel Company Concluded 70,000 MT Billet and Slab Tender

Khouzestan steel company, one of the largest exporter of steel in Iran had floated an export tender of 30,000 MT billet and 40,000 MT slab for early Mar'18 and Feb'18 shipment respectively. The due date for bid submission was 27 Dec'17 till 18:00 hrs.

As per market source, SteelMint learned that export tender for billet was concluded at USD 520/MT FOB Iran. Destination for billet export tender was not specified. Quantity of billet offered by KSC for delivery increased to 35,000 MT as against initial offering of 30,000 MT in tender notice. On parallel lines export tender for slab has been concluded at USD 485/MT FOB Iran. Slab is likely to go Far East Nation.

Global Billet Market

o Indian billet exporters remain inactive as domestic realizations are better than exports. Indian state owned mill cancels 27,000 MT billet export tender as domestic prices are rising sharply. Tender received highest bid at aound USD 515/MT FOB, where as domestic prices are hovering at around USD 540-545/MT.
o No firm offer registered in CIS nations as many of the sellers have not returned back from holidays. Last billet export offer in CIS was around USD 515/MT FOB Black Sea.
o Domestic billet prices in China are assessed at RMB 3,680/MT (including 17% VAT); stable against yesterday's closing price