With a significant decline in buying interest in Asia, Iran-based steel slab producers have been forced to decrease offer prices in order to entice customers.
In particular, a major Iranian steel exporter has recently closed its tender for 40,000 mt of steel slab at $568/mt FOB BIK, with the material being destined to be shipped to Southeast Asia, SteelOrbis has learned. The price is $17/mt lower in comparison to the previous tender closed in late November. Taking into account the freight rate and finance issues, the CFR price is assessed at around $635/mt CFR. In the meantime, the second major Iranian slab exporter is said to have failed to find a customer at its target price of $585/mt FOB.