CIS suppliers hike their billet prices for Iran

CIS suppliers have hiked their billet prices for the Iranian market, just as they have done for other markets recently. At present, CIS suppliers are offering 125 x 125 mm to 150 x 150 mm billet at $670-680/mt CFR Iranian northern port (Anzali) for production in June and shipment in July, up from $620-630/mt about three weeks ago and up from $630-640/mt about five weeks ago. CIS billet had been offered at $680-690/mt CFR Iranian northern ports in the middle of January this year and at $650-660/mt CFR Iranian northern ports in both mid-February and mid-March. In fact, it can be said that billet prices have started to approach the levels seen in January, following the falling trend witnessed in February, March and April. 
 
CIS suppliers have been successfully raising their billet prices in the last few weeks due to higher demand in most of the markets which import billet. Their attempts to raise their prices in previous months had been unsuccessful due to global circumstances, and in particular due to the political turmoil in the Middle East and North Africa (MENA) region.
 
Local Iranian traders who import billet from the CIS have increased their prices for ready stock billet, especially following the price increase for billet by CIS suppliers. Iranian traders are now offering ready stock CIS origin billet of 125 x 125 mm to 150 x 150 mm sizes at about $645-660/mt ex-stock Iranian northern ports, up from $635-645/mt about three weeks ago and compared to $635-670/mt about five weeks ago. Ukrainian origin ready stock billet of 125 x 125 mm to 150 x 150 mm sizes is now in a price range of about $625-640/mt ex-stock Iranian southern port, up from $615-630/mt about three weeks ago and compared to $615-640/mt five weeks ago.
 
Iran, one of the main importers of steel in the MENA region, imported about 240,000 mt of semi-finished steel during the first month (March 21- April 20) of the new Iranian year, according to the Iranian customs authorities. Iran had imported about 4.5 million mt of semi-finished in the last Iranian year (ended March 20), according to the same source. 
 
US$1 = Rials 10,450