Market sources expect that trading of ex-Iran semis, billet in particular, will improve from next week, though prices will remain under pressure.
There has been some slowdown of sales from Iran to Asia in January after the US has imposed a new round of sanctions against Iran, but trading has not halted fully. According to Asian sources, there have been a few sales, but “less than usual.”
The last deal for ex-Iran billet was signed at $425-430/mt CFR Asia, as SteelOrbis reported earlier, while recent offers have been coming mostly at $430/mt CFR. “But there are no bids close to $430/mt CFR at the moment,” a Thai trader said late last week. It is expected that new deals for ex-Iran material will be done at $420-425/mt CFR. Since rebar demand in such markets as Thailand and Indonesia has weakened, customers have been considering purchases of cheaper Iranian billet, SteelOrbis has learned.