Given Iran’s usual power generation challenges during the summer period, Iranian steel mills have as expected shifted their sales to raw materials instead of semi-finished steel. Moreover, low buying activity for ex-Iran billet, mostly due to the mismatch between offers and bids, has encouraged some Iranian mills to revise their range of export products.
Consequently, an Iranian mill, Sirjan Iranian Steel Company (SISCO), has decided to float an export tender for 30,000-35,000 mt of direct reduced iron (DRI), for delivery within 30 days. The deadline for bids is June 24. Earlier, the company was active in sales of steel billet.