Iran-based producers of steel billet have continued to feel a devastating impact from power outage crisis in the country. All the export activity has apparently dwindled down to nothing, with the production being halted indefinitely. “The production is completely stopped. Hence there are still no offers and consequently, no deals recently,” a key Iran-based steel billet exported stated. “We have had no new tenders during the past three weeks because of electricity outages,” another Iran’s billet exporter echoed.
The most recent ex-Iran billet tender was closed at $640-645/mt FOB BIK around ten days ago with China being the targeted market. As of now, the general range of offers for steel billet to China have reached $730-735/mt CFR, though with no success in bookings at this level yet.