Oman-based Moon Iron & Steel Company (MISCO), one of the largest investments in steel production in the region, is getting ready to enter the billet market of the Gulf Cooperation Council (GCC). The producer has recently performed a trial heat at its 1.2 million mt per year steel complex and intends to shortly start commercial production at the five-strand continuous billet caster of the same capacity, SteelOrbis has learned.
According to sources, while getting ready to enter the square billet market as a seller, MISCO has preliminary assigned its sales volumes to Duferco. Moreover, SteelOrbis has been informed that a 10,000 mt deal for April-early May shipment has been already closed with a UAE-based re-rolling company. However, it is worth mentioning that some market insiders expect the current situation with the spread of the Covid-19 coronavirus to result in a certain delay in billet production at MISCO. In particular, there is an expectation that the company will postpone billet production to May 1 amid the currently unfavorable and for now unpredictable business conditions.