Iran puts more semis export volumes on sale, workable prices weaken

Thursday, 27 April 2023 15:26:37 (GMT+3)   |   Istanbul
       

The market situation in the steel billet and slab segments globally has been negative lately and prices have been going down in most key sales outlets. However, although workable prices and traders' bids have clearly softened, new export tenders for semis from Iran have been launched this week.

In particular, one of the leading Iranian producers has floated a tender for 30,000 mt of billet for delivery in 40 working days, with a deadline of May 5. In addition, another supplier is currently holding a tender for 20,000-50,000 mt for mid-June shipment and with an April 28 deadline.

According to sources, neither of these tenders has been closed as the sides cannot agree on the price. Some traders have reported that $485-490/mt FOB bids have been rejected and there is an evaluation that one of the cargoes may be booked at $480/mt FOB. However, higher levels may be possible in sales by the regular exporters. In addition, there has been talk about an ex-Iran tender closed last week at $500/mt FOB for 25,000 mt, but the information has not been confirmed by the time of publication. “I doubt it can go to Asia with the freight at $40-45/mt, maybe to the Middle East,” a trading source said.

From last week, the SteelOrbis reference price for ex-Iran billet has lost $10-20/mt, coming to $480-500/mt FOB.

In the slab segment, a fresh tender has been floated for an optional tonnage of 20,000-50,000 mt for mid-June delivery, with a deadline of April 28. According to sources, the two key slab exporters from Iran had closed their tenders for slab exports at around $500-510/mt FOB recently, down from the previous sale at $525/mt FOB reported earlier this month. There has been no confirmation of where these volumes will go, given the falling bids in Southeast Asia.


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