Iran's KSC Concludes 60,000 MT Billet and Slab Export Tender

Khouzestan Steel Company (KSC) - one of the leading exporters of Iran had floated an export tender for the billet and slab of quantity 30,000 MT each. According to sources report to SteelMint, the company has concluded the tender. The slab cargo has been booked for China at USD 342/MT, FoB which is Jul'20 shipment. The billet export deal has been booked for SE Asia at USD 350/MT, FoB for Jun'20 shipment.

Prior to this company had floated a billet export tender of 30,000 MT quantity. According to sources reported to SteelMint, the company has concluded the tender at USD 345-350/MT, FoB, and this cargo was also scheduled for SE Asia.

SteelMint assessment for billet export offers from Iran was recorded at USD 345/MT, FoB Iran last week.

During the first month of the current Iranian year (20 Mar'20 - 19 Apr'20), largely, all-steel mills witnessed a decline in exports. The exports of the prime steelmakers were reported to be approximately 221,592 MT, during the first month. KSC remained the largest exporter at 102,373 MT witnessing a decline of 60%. The country's export market did not witness a favorable kick start in the new Iranian year amid the COVID-19 outbreak.

The way forward also doesn't look in the favor of steel mills as the government has imposed export restrictions on the mills, i.e. a mill can export only 25% of its production. However, further clarity on products levied is awaited as mills have opposed this move, especially for billets/blooms.