Iran, one of the largest producer and exporter of
billet has witnessed a drop of around USD 5-10/MT in billet export offer, which
is currently hovering at around USD 490-495/MT. CIS market highly influence
Iranian market as both the markets are almost same in terms of buyers.
As per market sources, last week billet price was
hovering at around USD 500-505/MT FOB Iran. With ESCO, Iran’s one of the
largest billet exporter having sold its 10,000 MT billet at around USD
503-508/MT to Oman.
As per Planner “No recent deals have been closed yet
since the materials are due to be shipped in April’18 and that is a long time
for negotiate now. The prices are declining in line with the CIS offers which
slide by around USD 10-15/MT in the beginning of week. Rebar in Iran is traded
at around USD 510-515/MT FOB Iran.”
Global Billet Export offers
As per SteelMint research
1. CIS billet export offers hovering at USD
490-495/MT FOB.
2. Indian billet export offers for 150*150 grade is hovering at USD 505/515/MT
FOB.
3. CNF Turkey 125*125 is hovering at around USD 520-530/MT
4. CNF Bangladesh 150*150 is hovering at around USD 515-520/MT
Iran Domestic Billet Prices Increased in Last Week
As reported in the last week news that domestic
billet is likely to increase owing to depreciation of Iranian Rials against
USD, it is witnessed that billet prices increased in last week. The market
opened on 20/01/2018 with billet price around IRR 19,730/KG (USD 435/MT).
Prices went up to 19,980/KG (USD 441/MT) on Sunday. Prices went up to IRR
20,350/KG (USD 439/MT) in mid-week and towards the end of week prices were
noted to be around IRR 19,830/KG (USD 437/MT).
Source: Steel Mint