Iranian Mills Raise Billet Export Offers

Iranian billet market has started recovering from dull sentiments and has picked up pace this week. According to SteelMint’s assessment, this is primarily due to the recent increase in Turkey’s scrap import prices, which witnessed a hike of USD 10/MT, yesterday against last week.

As per sources a billet manufacturer from Iran, in recent has revealed an export offer for 30,000 MT billets at USD 405/MT, FoB for June production. Rest all other Iranian steel mills are offering at USD 400/MT, FoB Iran.

Another reason, for boosted trade sentiments in Iran is CIS nations’ billet export offers which also witnessed a price hike of USD 10-20/MT this week. Yesterday, in a deal from CIS nations, billet export offers concluded at USD 430/MT FoB Black Sea, sources reported to SteelMint.

Turkey’s increased scrap import prices are playing a role of driving sentiments in CIS billet market trade sentiments as well. SteelMint’s assessment for US origin HMS (80:20) stands at USD 310/MT, CFR Turkey.