During the first half of March, an ex-Iran export trading of semi-finished steel has been to some extent constrained by the uncertainties prevailing in the global raw material and steel markets. Within the scope of recent developments, Iran-based exporters have been forced to offer lower their initial target prices in order to find a buyer. The most recent bookings for steel billet, as for steel slab, merely confirm that prices are still under pressure.
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 $550/mt FOB BIK, for April shipment. The price level is equivalent to about $584-588/mt on CFR basis, as the targeted sales destination is said to be China, with a freight rate estimated at $34-38/mt depending on the capacity of the vessel. One more sale of ex-Iran steel billet cargo has been heard at $545/mt FOB BIK Iran, with the destination not disclosed by the time of publication. Meanwhile, two weeks ago prices for ex-Iran billet were settled largely at 560/mt FOB BIK, as SteelOrbis reported earlier.
Concurrently, the same producer managed to sell a cargo of steel slab to China. Accordingly, a tender for 30,000 mt of steel slab was closed at $592/mt FOB BIK, for April shipment, while generally ex-Iran steel slab offers have been voiced at $590-610/mt FOB BIK during the past week.