Following recent price increases in the Asian market, Iranian mills have managed to raise their deal prices recently. At least two large cargoes have been sold at about $10/mt above the price levels in previous bookings.
A contract for Iranian billet, with China as the targeted sales destination at the end, has been signed at $350/mt FOB, while a deal for the Southeast Asian market has been heard at $348/mt FOB, sources have told SteelOrbis. Both transactions were for a relatively high volume of about 40,000 mt each and for July shipment, according to reports in the market. The previous deals from Iran were at $340/mt FOB or below a week ago.
Some end-users from Thailand have already said that they have started to receive offers for ex-Iran billet at around $380/mt CFR, which is $10/mt above the previous deal signed last week. Indonesian customers have also reported higher offers in the market, but buying activity has been limited since “holidays have already started. Demand will come back only after May 25,” an Indonesia-based source said.
