With bearish sentiments still prevailing in Asia, which is the key destination for ex-Iran semis exports, Iran-based slab producers have had no other choice but to accept lower prices in order to obtain any orders. Specifically, a major Iranian steel exporter has recently closed its tender for 40,000 mt of steel slab at $585/mt FOB BIK, for shipment in January, SteelOrbis has learned. The FOB price is $55/mt lower compared to the previous tender closed at the beginning of November. The material is destined to be shipped to Southeast Asia. Another tender for 20,000-30,000 mt of slab produced by another Iran-based mill is scheduled to be closed on Friday, with some sources expecting the price to decline to $560/mt FOB BIK.
Meanwhile, ex-Iran slab from traders is said to be available at $650/mt CFR, according to Asia-based sources.