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.