Iranian billet export prices maintained in new deals

Wednesday, 15 May 2024 16:18:14 (GMT+3)   |   Istanbul
       

Iranian billet exporters have once again maintained their price positions in newly reported sales. According to sources, Chadormalu Mining and Industrial Company has lately traded 30,000 mt of billet at $477/mt FOB for June shipment. Another supplier, Sirjan Iranian Steel Company (SISCO), has also traded a smaller lot at $478/mt FOB and for a slightly shorter lead time. Previously, the workable price level for ex-Iran billet was reported at $475-480/mt FOB.

In the GCC region, where longs prices have more or less stabilized and demand has been sufficient, particularly in the UAE, the offers for Iranian billet have stabilized at $495-505/mt CFR or around $505-515/mt CPT.

In Asia, there has been talk of a sale of one distressed cargo to Indonesia at $505/mt CFR, but the information has not been confirmed by the time of publication. The indicative price for Asia from Iran for fresh cargoes is estimated at around $515/mt CFR, while the workable level would not be above $505/mt CFR for buyers in need, SteelOrbis understands. The freight is estimated at $35/mt minimum.

In Turkey, some Iranian billet offers have been maintained at $510/mt CPT Iskenderun, while some suppliers have indicated $485/mt DAP to the Karabuk region, for IF quality material.

In the domestic market, the prices for billet in Iran are at IRR 22,000/kg ex-works, which is around $375/mt ex-works based on the current exchange rate.


Similar articles

Lower scrap prices put Turkey’s billet imports under pressure after previous deals

21 Nov | Longs and Billet

Chinese billet still most competitive in SE Asia’s import market, outlook cautiously negative

21 Nov | Longs and Billet

Feralpi highlights importance of European steel at EUROFER event in Brussels

20 Nov | Steel News

Ex-India billet prices stable, but sellers halt exports amid wide bid-offer gap

20 Nov | Longs and Billet

Ex-China billet prices hit bottom for now as another stimulus expected, ex-ASEAN deals sporadic

19 Nov | Longs and Billet

Kazakhstan bans semi-finished exports for six months

19 Nov | Steel News

Global View on Billet: China’s bearishness impacts most markets, outlook turns negative

15 Nov | Longs and Billet

Billet prices for SE Asian buyers fall, but trading not so active with more declines possible

14 Nov | Longs and Billet

Ex-India billet under great pressure, rebound in local market attracts sellers’ focus

13 Nov | Longs and Billet

Import billet prices down in Turkey, but interest in large lots rises

12 Nov | Longs and Billet