Iranian mills continue their moderate activities in the billet export segment, with two mills lately floating tenders aiming to trade decent tonnages.
According to sources, Iran’s Chadormalu Mining and Industrial Company has floated an export tender for 30,000 mt of 150 x 150 mm 5SP/3SP billet for end-of-November delivery. The tender is valid until October 15, 2024. In addition, Iran’s BISCO, a blast furnace-based producer, has launched a tender for a large volume of 130 mm and 150 mm billet, with no additional details disclosed yet.
The most recent export billet prices from Iran have been at $450-453/mt FOB and most market players expect the levels will be kept relatively unchanged if the eventual buyer would aim to trade this position to the GCC, where the level of $480/mt CFR to the UAE or Oman is quite acceptable. For Asia, however, the purchase price for billet has to be at least $10/mt lower than that, SteelOrbis understands.