Having returned to the market after the Nowruz holiday which started on March 21 and lasted until March 24, a major Iranian steelmaking mill has floated an export tender for 20,000-30,000 mt of steel slabs. The material is destined to be delivered at the end of May. The company is said to be targeting $850/mt FOB, which is far from the price expected by most market insiders. “Everyone one is surprised by this offer. In Europe, there is solid demand now, but the Europeans are so cautious with Iran, especially with US sanctions and problems with payment routes,” a trader commented. As SteelOrbis reported, last week significant volumes of ex-China steel slabs were traded at $1,030/mt CFR to Europe, while in general offers for ex-ASEAN slabs in Europe have been heard at $1,030-1,200/mt CFR.
Earlier in the first half of March, a cargo of ex-Iran 40,000 mt of steel slab was transacted at $700-710/mt FOB.