China Books 44,000 MT Billets from Iran
According to market sources report to SteelMint, China has booked around 44,000 MT billet from Iran this week. The deal value was reported to be USD 390/MT FoB Iran for which landed price would come around USD 440-445/MT, CFR levels
Earlier this month also, China had booked around 200,000-300,000 MT from Qatar and Iran at USD 440-450/MT CFR.
This week Iranian billet export offers reported identical as last week; USD 390-395/MT, FoB. The country’s export market sentiments remained supported on the back of a deal to China.
The prime reason for China importing billets is government of China has imposed environmental restrictions on blast furnace production. To fill this gap left by billet production cuts of BF grade, Chinese steel manufacturers have now start importing billets from Qatar & Iran.
There were talks yesterday that Tangshan has drafted a plan to extend anti-pollution production curbs throughout August.The Tangshan Ecology and Environment Bureau have reported to the municipal government to issue the “Intensified Management and Control Plan for Air Pollution Prevention and Control in the City in August”, which will limit the production of the steel industry up to 50%, and take effect from August 1 to August 31.
Yesterday, China’s domestic billet prices in Tangshan was assessed at RMB 3,640/MT (including 13% VAT) which would come around USD 530/MT.
source: SteelMint
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