Iranian export billet prices keep surging amid supportive demand in Asia [CORRECTED]

Export prices for steel billet from Iran continued to rise in early April, supported by demand from Asia and, in particular, from customers in China, sources told Fastmarkets on Wednesday April 7.

One Iranian producer booked 30,000 tonnes of billet, scheduled for delivery at the end of April, at $570 per tonne fob southern Iranian ports.
Another steelmaker in Iran sold 30,000 tonnes of billet, to be delivered at the end of May, at $571 per tonne fob.
Sources said both cargoes were heading for Asia.
Market sources said there had been “lively demand” for import billet in China because of the reduced availability of domestic material caused by production cuts and surging finished long steel prices.
Imported billet prices were much more attractive than domestic offers, sources told Fastmarkets.

Fastmarkets’ daily assessment for...

Published

Vlada Novokreshchenova

April 08, 2021

07:59 GMT

Dnipro