Having suffered electricity shortages and, in particular, blackouts during the summer, Iran-based producers of steel slabs have gradually started to come back to the market, though still not very widely.
Accordingly, at the end of previous week at least one tender for 40,000 mt of ex-Iran slab billet was closed at $680/mt FOB BIK, with the material destined to be shipped to Southeast Asia, SteelOrbis has learned. The FOB price is $20/mt lower than that achieved in a tender around 20 days ago, while the CFR price is almost in line with tradable prices for ex-India and ex-Indonesia material in Southeast Asia, taking into account the freight cost at $60/mt.