According to market sources, a price increase for Iranian billet has been fixed in a deal to Thailand recently. Customers have faced much higher offers from all other destinations and have decided to book some Iranian billet, which is still cheaper.
A contract for 10,000-30,000 mt of ex-Iran billet has been signed at $360-365/mt CFR Thailand for June shipment, SteelOrbis has learned. The price is $5-10/mt higher than last week’s booking of 30,000 mt to Thailand for May shipment and $10/mt above the previous deals to Indonesia.
Local sources have said that it has been hard to find offers from traditional suppliers even at $370/mt CFR recently. Many exporters have said they have not had allocation for May and June shipment. “One of the Russian mills withdrew its offer. There seems some issue sourcing scrap,” an Asian trader said. Official offers from another steel producer from Russia’s Far East have been reported at $375/mt FOB.
