Ex-Iran billet prices poised to rise next week on back of Chinese demand

Friday, 07 May 2021 17:40:22 (GMT+3)   |   Istanbul

Despite the absence of billet tenders in Iran during this week, Iran-based suppliers are determined to increase their target prices in the upcoming tenders next week, based mainly on solid support from booming demand for billet in China.

Accordingly, following the rapid price increase for billet in China this week, international traders have started to test the Chinese market with fresh offers for ex-Iran billet at $700-710/mt CFR China. Moreover, there has been talk in the market of a transaction reportedly done for ex-Iran billet at $700/mt CFR. Although the information could not be confirmed by the time of publication, the deal may well have been concluded, market participants believe. The latest booking for ex-CIS billet has been done to China at $715 mt CFR.

Taking into account that the most recent tender for billet was done by a key Iran-based producer in late April at $620/mt FOB BIK, and even considering financing costs, ex-Iran billet prices are poised to increase noticeably next week, SteelOrbis believes.


Similar articles

Turkey’s Kardemir issues planned sales volumes for Q1 2025

24 Dec | Steel News

Chinese domestic steel section prices decline

23 Dec | Longs and Billet

Turkey’s Kar-Demir increases energy efficiency with FESCON technology

23 Dec | Steel News

Ex-Turkey merchant bar prices stable

20 Dec | Longs and Billet

Chinese domestic steel section prices still fluctuate by small margins

16 Dec | Longs and Billet

Chinese domestic steel section prices indicate minor fluctuations

09 Dec | Longs and Billet

Billet imports in Turkey put pressure on prices due to low scrap prices, weak longs demand

28 Nov | Longs and Billet

Import billet prices in Taiwan drop further as Chinese traders aggressive despite expectations

27 Nov | Longs and Billet

Chinese domestic steel section prices rebound slightly

25 Nov | Longs and Billet

Turkish merchant bar export prices stable

08 Nov | Longs and Billet