Iran Billet Export Offers Rise Marginally

Iranian billet export offers witnessed a marginal increase amid active domestic demand. However, no export deals were reported during the week.

SteelMint’s assessment for billet export offers from Iran is at USD 390-395/MT, FoB Iran, up USD 5/MT against last week.

After getting black listed from FATF, the visibility on country’s billet export market was quite blurry as it has given an impression that export offers from the country could drop down. But active domestic demand has managed to keep the offers supported. The country’s steel mills have limited allocation till end Apr’20 as they have to offer sizable quantities in domestic market by the end of current Iranian Year (21 Mar’19-20 Mar’20).

Also, the stability in global scrap prices have managed to keep the country’s billet export offers encouraging.

Price assessment USA origin scrap HMS 1&2 (80:20) is standing at around USD 280/MT CFR Turkey, up by USD 5/MT against price level reported last week closing.