As expected, Iran-based suppliers of semi-finished steel products have continued to push up their export prices due to the global uptrend. Consequently, the most recent tender for ex-Iran steel billet was closed at a price $17/mt higher than the previous one.
Accordingly, SteelOrbis has learned of a fresh tender for 30,000 mt of steel billet closed by one of the main steel producers in Iran at $560/mt FOB BIK, for end-of-March shipment. Taking into account that the material is destined for Southeast Asia, the CFR price is estimated to be not below $594/mt CFR or even higher, with the recent rise in freight rates.