After a few weeks of stability, ex-Iran billet prices have decreased to customers in Southeast Asia as offers from other suppliers in the region were already lower.
Recent offers for ex-Iran billet have been heard at $410/mt CFR Thailand and one source confirmed SteelOrbis that a deal has been done at $408/mt CFR Thailand recently. As reported earlier, since late February offers for ex-Iranian billet from traders have been mostly at $415-420/mt CFR. Traders have been in negotiations with Thai customers and there is information that $405/mt CFR Thailand has been possible to get, but no deals have been done at such a level, sources have said.
Overall, Iranian mills are not in a rush to sell. That is why they are unlikely to give big discounts to traders, who would later sell to Southeast Asia.
Some sources said that even $408/mt CFR Thailand has been a relatively high price for ex-Iran billet in the current market conditions, taking into account that offers from other major suppliers have been at $415-420/mt CFR depending on the country-buyer, and the workable level is not above $415/mt CFR.
