Iran: Billet Export Market Turns Active with Recent Deal to SE Asia

This week Iranian billet export market reported trade active. A deal of quantity 40,000 MT billet was reported to conclude to SE Asia from the country. The deal was reported to have concluded at USD 347/MT, FoB Iran and the shipment is schedule for mid December.

However, billet export offers from the country are standing at USD 345-350/MT, FoB Iran, identical as last week.

According to SteelMint analysis, increasing Turkey’s imported scrap prices are intensifying the billet export market sentiments of the country. The Turkish market has been very active for scrap bookings since the last week even amid continuously rising offers from global suppliers over tight supply during winters.

A total of 5.89 MnT of finished and semi-finished steel products were exported from Iran during the first half of the current Iranian year (March 21-Sept. 22) up by 40.84% Y-o-Y, according to the Iranian Steel Producers Association's latest report. Billet and bloom occupied the largest share of semis exports with an aggregate of 2.96 MnT to mark an 88% rise Y-O-Y, as per Financial Tribune report.

As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap has now escalated to USD 253/MT, CFR Turkey, increasing by USD 8-9/MT against last week.