Iran Billet Export Offers Witness Marginal Drop

This week, Iran billet export prices fell marginally in recent deals. SteelMint’s assessment for billet export offers from Iran is at USD 380-385/MT, FoB Iran, down USD 5-10/MT, against last week. While domestic billet offers in the country are at IRR 52,600/kg, including 9% VAT.

Iran billet export market was reported trade active, as the country was noted to have billet bookings in Asia and MENA region. The booking was made in 2 lots; 10,000 MT for Asia and 30,000 MT for the MENA region and the deal value for both the lots was reported to be USD 385/MT and USD 382/MT respectively on FoB Iran basis. However, with the mentioned booking, the billet export offers from the country witness a marginal fall.

Meanwhile, one of country’s leading billet exporter; KSC did not conclude 30,000 MT bloom export tender, floated last week. Amid disparity between bids and offers, company did not conclude the tender, SteelMint learned from reliable sources.

The epidemic of COVID-19 is getting further radial in the country, with every passing day. The event has dried up the business activities in the country, most of the ground borders have been closed and exports have been put up on halt for indefinite period, an Iran based reliable source reported to SteelMint.