Iran floats another billet tender, workable prices considered unmoved

Monday, 22 January 2024 17:22:55 (GMT+3)   |   Istanbul
       

Another official export billet tender has been floated in Iran and that now makes several mills being out there, trying to sell their materials abroad. In the meantime, the general workable price level is considered to be relatively stable with small discounts possible from some of the producers.

Recently, Sirjan Jahan Steel Company (SJSCO) has announced about its intention to sell 15,000 mt of 150 mm billet with the possibility to increase the order to 20,000 mt. The cargo is for the first half of March shipment from Bandar Abbas port. The validity of the tender is January 28, 2024. In addition, last week Chadormalu Mining and Industrial Company has announced it wants to sell 30,000 mt of 5SP/3SP billet for mid-March delivery with the tender valid until January 23.

The price for ex-Iran billet is still considered to be within $480-490/mt FOB around depending on the mill and the shipment term. In addition to the abovementioned, traders reported there are offers from SKS at $480-485/mt FOB, while an IF-based producer in Iran has voiced an offer at $478/mt FOB.

Some chances might be there to sell to the GCC, particularly to the UAE and Oman, following today’s rebar price increased by Emirates Steel Arkan (ESA) – by $15/mt to $745/mt ex-works. At the end of the past week, ex-Iran offers stood at around $520-525/mt CFR. In Turkey, there have been indications reported at $526/mt DAP Karabuk region and $523/mt delivered to the Iskenderun region. In Asia, there have been no fresh sales from Iran reported just yet with the latest offers at $525/mt CFR to Indonesia and Thailand. It is worth mentioning, that a Russian mill has recently concluded a billet sale to Taiwan at $525/mt CFR versus the initial target of $530-535/mt CFR. As a result, the general mood in the market is not much optimistic, at least for now.


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