Iran’s billet sales closed at unexpectedly high levels

Friday, 03 May 2024 14:09:18 (GMT+3)   |   Istanbul
       

Several Iranian mills, which have been trying to conclude billet export sales over the past couple of weeks, have disclosed the information regarding their sales. However, the market has been surprised somewhat by the rather high price levels and the market sources tend to explain this by either special contract conditions or by hopes that support will come from the Asian market.

According to sources, Khouzestal Steel Company has lately closed a deal for 30,000 mt of billet at $478/mt FOB, while Esfahan Steel Company has traded another 30,000 mt at $480/mt FOB, both for early June shipments. “Demand is low in both domestic and export markets and these are prices announced by the sellers, which seem to be high. They sold billet, but there may be some customer preferences either spec-wise or for urgent delivery,” a source told SteelOrbis. Another supplier, Khorasan Steel Company (KSC) seems to be about to finalize a deal for 20,000 mt at $475/mt FOB, market players say. Induction furnace billet is on offer at around $420-440/mt FOB.

While most of the export destinations do not look promising, Iran seems to count on a certain revival in Asia. According to sources, 30,000 mt were sold to Indonesia at $505/mt CFR from a previous position, with up to $35/mt in freight. The new offers are at $515/mt CFR, SteelOrbis has learned.

In the GCC, ex-Iran billet prices are at around $500-505/mt CFR or $515-520/mt CPT, while buyers are pushing for small discounts. In Turkey, the latest ex-Iran billet offers have been set at $510/mt delivered to the Karabuk and Iskenderun regions. Offers to Jordan are at $520/mt CFR, sources say, but buyers insist on some discounts.


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