Iranian billet export market sentiments reported dull
this week, however offers remain under pressure amid falling global billet and
scrap offers.
According to SteelMint sources, this week country’s
billet export offers were reported between USD 375-380/MT FoB. The US sanctions
are gradually getting hefty on the Iran billet export market. Effects can be
seen with the hesitations of SE Asian countries in buying billet from the
country. Also the country’s billet export market is battling with dipping
Turkey’s scrap import prices which has managed to keep the market sentiments
weaken.SteelMint’s assessment for US origin HMS (80:20) scrap to Turkey is USD
280/MT, CFR against USD 293/MT, CFR a week back.
Around ten days back, one of the leading billet
producers of the country - KSC managed to conclude a billet export deal for
30,000 MT quantity at USD 390/MT, FoB. According to sources, the deal was
happened to some Far East Asian country. However at current scenario bids have
turned lower by USD 5-10/MT than last prices at which deals were reported.
Source: steelmint