A lot of 30,000-40,000 mt of Iranian 130 mm billet has been sold to Thailand at $370/mt CFR recently, with the price in line with the previous sale to Thailand reported last week.
Indian and CIS-based suppliers have increased offer prices for Southeast Asian customers above $380/mt CFR, and so customers have been seeking cheaper alternatives. Market sources said that there are still offers at $370/mt CFR Southeast Asia for Iranian billet.
“The workable price is $365-370/mt CFR here and those who need to buy can find offers at this level,” a Thailand-based re-roller said. However, overall demand has remained limited.