Iran Billet Export Offers Soften on Limited Trades
After observing deals in past few weeks, this week left the Iranian billet market sentiments softened. SteelMint’s current Iran’s billet export assessment stands at USD 385-390/MT, FoB, down by USD 5/MT against last week’s assessment of USD 390-395/MT, FoB.
However, one of the prime billet producers in Iran has floated a billet export tender. The company is expecting to get around USD 385-390/MT for the deal. The tender is expected to get concluded by end of this week.
The prime reason for this sluggish week is; the market is mostly under pressure from trade war between China and the US. Marketers are afraid that this could lead to recession and assets are mostly into safe haven like gold and bonds. Iron ore prices have dropped by USD 20 in last one week.
Also, the Chinese local billet prices have come down , which has now turned the interest of Chinese billet consumers towards domestic purchase. Chinese domestic billet prices in Tangshan are assessed around RMB 3,560/MT (including VAT).
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
