Following the escalation of pressure from customers, suppliers of ex-Iran steel billet have been forced to lower their prices in order to attract buyers. Specifically, SteelOrbis has learned of the most recent tender for shipment of 20,000 mt of 3SP steel billet closed by a major Iran-based exporter last week at $609/mt FOB, for early August shipment. The destination was not specified by the time of publication; however, it is likely to be China or Southeast Asia, with freight being assessed at $55-60/mt. About two weeks ago, a cargo for the same volume of ex-Iran billet was sold at $645/mt FOB BIK, as SteelOrbis reported earlier.
Meanwhile, another Iran-based producer is said to have a tender for shipment of 30,000-40,000 mt of 3SP/5SP steel billet with a deadline of July 6.