Southeast Asian billet customers are still interested in purchases from Iran. Deal prices have remained stable in the latest bookings, but suppliers are going to increase their billet offers for January shipment.
Two ex-Iran cargoes for 30,000 mt each have been sold at $385/mt CFR and $395/mt CFR to Thailand for December shipment, sources said. The levels are in line with the previous transaction in the Southeast Asian market for ex-Iran billet for similar lead times.
Taking into account that large volumes of Iranian billet were sold to China in the first half of October, most producers in Iran have already sold out a large part of their billet for December shipment. Iranian exporters will increase their billet offers for January shipment by $10/mt, SteelOrbis learned.