With the uncertainty towards the future price trend in the global steel market, most Iranian steel billet exporters are opting to take their time. The ongoing insufficient demand and the recent rebound in scrap prices in the latest deals in Turkey have made Iranian sellers somewhat cautious as regards new offerings.
Lately, fewer cargoes of ex-Iran steel billet have been offered to the export market, with most suppliers preferring to closely watch current market developments. This week, Iranian steelmaker Sirjan Iranian Steel Company (SISCO) has opened an export tender for only 20,000 mt of steel billet, with the delivery within 45 working days. The deadline for bids is Monday, July 11.
As SteelOrbis reported earlier, the latest SteelOrbis assessment for steel billet has been at $490-500/mt FOB.