This week, Iranian steel billet exports have remained quiet, with both sellers and buyers being acutely skeptical with regard to any positive changes in the market in the near future. “The global market seems to be under pressure. Iranians are just following the global trend,” an international trader stated. “Iranian prices were on fire a few weeks ago but they seem to have lost some of their heat. These days the market is very calm,” an Iranian source commented.
Nevertheless, at least one deal for ex-Iran steel billet has been heard this week. Specifically, a billet cargo is reported to have been sold at $545/mt FOB BIK. The material is reported to be destined to be shipped to the Far East, with freight being estimated at around $30-40/mt. The price in the deal in question is in line with the high end of the price range valid for ex-Iran billet a week ago.