Ex-Iran billet prices have continued to increase strongly this week as the suppliers have been aiming to take advantage of sufficient demand globally and overall supportive market conditions. The current week has ended with at least four tenders closed and one still open for bids from customers.
Accordingly, by the end of the current week at least four Iranian billet exporters successfully sold billet at the range of $522-530/mt FOB, having managed to increase prices by $30-32/mt compared to offers voiced two weeks ago. The material is supposedly destined to Asia.
Meanwhile, traders have not hesitated to test market with much higher offers. According to sources, ex-Iran billet offers to Southeast Asia have been voiced at $570/mt CFR at the beginning of the current week, but with no deals reported yet.