During the past week, the increase in ex-Iran billet offers has continued to gather momentum, owing to stronger demand from Asia and steadily rising bid prices.
The latest tender for 30,000 mt of ex-Iran billet was closed at $438/mt FOB BIK. The material is for December shipment and is destined to be shipped to Southeast Asia. The CFR price is estimated to be at least $470/mt CFR, with freight being assessed at $32/mt. Prior to this booking, several cargoes of ex-Iran billet were sold at around $425-430/mt FOB Bandar Abbas.
As SteelOrbis reported earlier, last week most prices of ex-Iran semis were fixed at $415‐420/mt FOB.