Iran has remained active it its efforts to export steel billet. Two domestic producers have launched export tenders this week, while the estimated workable price is expected to be in the range of $465-470/mt FOB as the market is relatively stable.
This week, Sirjan Jahan Steel Co. has floated a tender for 20,000 mt of 150 mm billet, with the deadline earlier announced as November 20, but since extended for two days. The shipment term is mid-December.
In addition, Chadormalu Mining and Industrial Company has launched a sale of 30,000 mt of billet to be loaded from Bandar Abbas and for the delivery by mid-December.
If booked, the cargoes could be destined for the GCC region. The recent offer prices have been reported at $490/mt CFR, versus bids $5-10/mt lower from buyers. Freight is estimated at around $20/mt.