Ex-Iran semi-finished products prices remain strong and deal prices have continued to climb even despite resistance from buyers. Since late December, the workable price level for billet has increased by $15/mt on average.
Steel Orbis has learned of a fresh tender for 30,000 mt of steel billet closed by one of major steel producers in Iran at $570/mt FOB BIK Iran this week. As the material is said to be destined for Southeast Asia, the price corresponds to about $602/mt on CFR basis in Southeast Asia, adding freight costs. The tender prior to the abovementioned one was closed at $555/mt FOB BIK Iran before the New Year holidays. In the meantime, most customers in the Southeast Asian region are trying to slow down the ongoing uptrend, bidding largely below $600/mt CFR for ex-Iran billet. However, according to sources, Iranian suppliers, only with a few exceptions, are ready to sell at $560/mt FOB.
Meanwhile, current ex-Iran slab offers have been voiced at approximately $650/mt FOB BIK Iran, with at least one cargo being under negotiation in a valid tender. Previously, a slab tender for 30,000 mt was closed at $632/mt FOB BIK Iran, as SteelOrbis reported earlier.