Iranian billet export prices continue to weaken

Wednesday, 17 April 2024 15:55:09 (GMT+3)   |   Istanbul
       

Billet export prices from Iran have once again weakened, given the rather unfavorable situation in terms of demand in the major consuming destinations.

According to sources, Chadormalu Mining and Industrial Company has recently closed a 30,000 mt export 3SP billet tender for end-of-May delivery. The price is $470/mt FOB, which is $7/mt lower than the previous sales price from Sirjan Jahan Company, reported before the holiday.

In addition, some position cargoes have been offered to Pakistan at $470/mt FOB Bandar Abbas for EAF billet, while IF material, according to sources, has been available at as low as $410/mt FOB. In Turkey, the latest offer levels have been heard at $507-510/mt CFR Iskenderun, which is quite workable, but not yet accepted by buyers. In the GCC, the indicative offer level from Iran is evaluated at $490-500/mt CFR and no deals have been reported.

In Asia, the indicative level is at $500/mt CFR from traders, but it is not workable due to the weak market in the region. However, as of today Asian market sentiment is more positive due to higher iron ore prices, and, if the trend is sustained, billet prices may increase, SteelOrbis estimates.


Similar articles

Local Indian rebar prices under pressure amid sluggish post-holiday trade

05 Nov | Longs and Billet

Global View on Billet: Asian market shows some signs of increases, but weak scrap impact

01 Nov | Longs and Billet

Turkish buyers insist on lower billet prices, successful only for small tonnages

31 Oct | Longs and Billet

Import billet prices in SE Asia up slightly as traders not eager to offer in short positions

31 Oct | Longs and Billet

Ex-Asia billet pricing lacks direction amid tentative optimism in China, rare deals with discounts

30 Oct | Longs and Billet

Indian local rebar and billet markets remain sluggish, prices down $6-20/mt weekly

29 Oct | Longs and Billet

ArcelorMittal Kryvyi Rih produces 16 million mt of billets since launch of CCM complex

28 Oct | Steel News

Global View on Billet: Prices fluctuate in limited range, mood among buyers still quite depressed

25 Oct | Longs and Billet

SE Asian billet importers wait for further fall due to negativity in China

24 Oct | Longs and Billet

Turkey's Kardemir cuts local billet offers, import price changes yet to be seen

24 Oct | Longs and Billet