South Kaveh Steel Company (SKSCO), based in Iran, has announced its intention to sell 30,000-60,000 mt of steel billet, with the cargo to be shipped from Bandar Abbas port at the end of April. The tender is valid until March 15, with the company offering 150 mm billet of 3SP/4SP/5SP grades.
In addition, Chadormalu Mining and Industrial Company’s ongoing billet export tender for 30,000 mt is due to be closed today, March 12.
Sources expect the prices for billet will be below $500/mt FOB this time. Only the material with a shorter lead time may be priced a little higher. In the meantime, the price idea from GCC buyers is around $500-505/mt CFR with around $20/mt freight, while in Turkey the offers from Iran are still at $510/mt delivered.
According to sources, one Iranian supplier has traded billet lately at $495/mt FOB, versus $507-510/mt FOB achieved earlier. Also, a slab cargo is rumored to have been sold at $480/mt FOB, versus a previous deal at $471/mt FOB.
In addition, Iran’s Khouzestan Steel Company (KSC) has launched a tender for 30,000 mt of DRI for May delivery, valid until March 16.