EghtesadOnline: Iranian exporters of semi-finished steel products continue to push for higher prices after successfully selling billet and slab volumes in recent weeks.
Metal Bulletin’s weekly price assessment for Iranian billet exports widened at both ends of the range to $515-530 per ton FOB on March 14, against $518-520 per ton FOB a week earlier.
The country’s largest billet exporter, Khouzestan Steel Company, opened a tender for May-rolled material on March 11, which will be valid until March 16.
Market participants say the mill’s price estimate is $530-535 per ton FOB, according to Financial Tribune.
Compatriot mill Esfahan Steel Company is also offering billet for June-loading readiness at $530 per ton FOB, including 30% prepayment.
The latest bookings of Iranian billet were heard mainly at $520 per ton FOB Black Sea last week. A source noted that a cargo of Khouzestan Steel Company billet was sold to the UAE at $525 per ton FOB last Friday, but this information could not be confirmed by market participants at the time of publication.
While mills were pushing for higher prices in new tenders, some market participants were quite bearish, noting recent price fluctuations in the Chinese market.
Bids for Iranian billet were heard at $515 per ton FOB, according to market participants.
Meanwhile, Chinese billet was traded at 3,610 yuan ($571) per ton, including VAT in Tangshan on March 12 while the price had slipped to 3,570 yuan per ton on the same basis on March 14.
The Iranian export price assessment for steel slab increased to $545-550 per ton FOB on March 14, against $540 per ton FOB last week.
Recent bookings from Iran’s largest slab supplier, Mobarakeh Steel Company, were heard at $545 per ton FOB.
Khouzestan Steel Company expects to achieve $550-560 per ton FOB in its current render, a source told Metal Bulletin.