China’s active buying has caused Iranian billet suppliers to closely monitor developments in the market and try to increase prices. “I have got so many inquiries recently. Hence, I am waiting for new tenders conducted by local mills”, an Iranian trader stated.
SteelOrbis has learned of a recent booking of 30,000 mt of ex-Iran 3SP billet at $416/mt FOB Bandar Abbas. Meanwhile, last week, one of the key Iranian mills sold the same volume at $415/mt FOB Bandar Abbas, market players report. These deal prices are equivalent to at least $445-446/mt CFR, while earlier Chinese importers were insisting on $440/mt CFR and below for Iranian billet. Suppliers from Iran will try to get $420/mt FOB or higher in new deals.