Iranian Mills Raise Billet Export Offers on Supply Tightness
Iranian billet export market sentiments remained supported this week on the back of supply tightness.
According to market sources report to SteelMint, Iranian mills have raised billet export offers this week by around USD 5/MT against last week. Current offers are assessed at USD 390-395/MT, FoB basis against last week’s offer of USD 385/MT, FoB.
Some deals were reported this week from the country for size 150*150 mm of quantity 30,000 MT at USD 390 -393/MT, FoB, Iran. The shipment is booked for Oct’19.
The prime reason behind hike in offers is all the major billet producers of Iran are booked till September, so material availability is an issue.
On the other side, CIS billet export assessment is currently at USD 415-420/MT, FoB levels.
source: SteelMint
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