Iranian billet export prices have stabilized this week while trade has remained rather slow. A couple of mills have billet on offer and are looking to raise their prices, though so far the market does not want to accept. The expected improvement in Asia has not happened and ex-Iran offers have not received support. In the meantime, some traders have negotiations with Middle Eastern buyers, but deals remain rare.
According to sources, Iran’s Khorasan Steel Complex has lately closed an export tender for 30,000 mt at $470/mt FOB for December shipment. The same price was fixed in the previous deals by another mill, as SteelOrbis reported.
In Asia, the indications for ex-Iran billet have been set at $505/mt CFR Indonesia and $500-505/mt CFR Thailand, while earlier some increase had been expected due to the temporary uptrend in China. The freight rates from Iran to Asia are estimated at around $35-40/mt depending on the tonnage, which leaves traders with no margin.
In the GCC, offers to both Oman and the UAE have been reported at $495/mt CFR, with freight estimated at $10-15/mt. Negotiations are underway. In addition, a billet cargo from Iran has been sold to Jordan at $535/mt CFR, sources report.