Chinese HDG offer to Iran

A small mill in China is offering SGCC grade 120 g/m2 zinc coated hot dip galvanized coil to Iran at $790-800/mt FOB Shanghai for 0.4 mm x 1,000 mm x C size and at $770-780/mt FOB Shanghai for 0.5 mm x 1,000 mm x C size on actual weight basis via at sight payment by letter of credit for March shipment. The price has remained unchanged compared with the offer in January. Recently, many traders said that the banks did not accept letter of credits issued in Iran banks; therefore, the trade volume was affected to some extent.