Iranian steel mill Sirjan Jahan Steel Complex (SJSCO) is reported to have floated an export tender for 30,000 mt of billet. The material is destined to be delivered in the second half of September. The deadline for bids is Tuesday, July 12.
Despite the rebound in scrap prices in the latest deals in Turkey and the appearance of positive sentiments in the global steel market, market insiders in Iran have remained cautiously positive towards future developments. Any increases in the coming deals appear to remain doubtful due to ongoing insufficient demand, coupled with the availability of low-priced material from Russia. Specifically, this week ex-Russia steel billet offers in China and Southeast Asia have been heard at $560/mt CFR and $570-580/mt CFR respectively, which corresponds to around $490-510/mt FOB BIK for ex-Iran steel billet, taking into account freight and the cost for financing. As SteelOrbis reported earlier, the latest SteelOrbis assessment for steel billet was at $490-500/mt FOB.