Iran’s Billet Still in Demand
Billet sellers from Iran are still able to find a buyer in the Persian Gulf states amid uncompetitive prices from China.
At the same time, Iran’s offer levels have been kept relatively stable over the month. Iran’s major billet exporter, Khouzestan Steel Company, managed to sell around 30,000 tons of semis (February shipment) to the UAE at around $395/ton FOB. Another supplier Esfahan Steel Company is currently negotiating $390/ton FOB with some regional buyers. Previous sales were closed at a slightly higher mark—$393/ton FOB about a month ago, Metal Expert reported. Overall Iran’s material is available for the Persian Gulf region within $405-410/ton CFR, while the indicative offers from China are set at about $420-425/ton CFR. Although such a level reflects around a $20/ton decrease from last month, prices from China are still considered unworkable by regional customers. “They [Iran’s mills] don’t have to follow China’s ups and downs. Keeping the prices stable has provided them with some solid demand,” a market source told Metal Expert.
source: Financial Tribune
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