NEWS
IRON and STEEL  

Iran Billet Export Offers Continue to Decline

Iran, one of the major billet exporter in MENA region is currently facing economic sanctions from US, owing to which export of steel has been adversely affected. Recently, on 04 Nov’18, US imposed 2nd phase of sanctions targeting the banking, insurance and shipping industry, which has made the exports more difficult.

As per market sources, Iranian billet export offers has declined further by USD 10/MT W-o-W to USD 390-395/MT FoB. Last assessment made was around USD 405/MT, FoB. As per SteelMint sources, Iran’s finished long giant ESCO has recently closed an export deal of 40,000 MT billet at around USD 400-410/MT FoB Iran.

Amid US sanctions, many countries has suspended their trade with Iran, Iranian exporters are trying to fetch new market by offer their billet at record low offers.

Iranian Domestic Billet Offers

Domestic billet offers during the beginning of week 49 (1 Dec-6 Dec’18) was noted to be around IRR 33,460/KG (USD 797/MT). Offers continued declining over the next few days and reached IRR 33,110/KG (USD 788/MT). During the mid of week 49, billet offers in domestic market was heard at around IRR 32,910/KG (USD 784/MT). Towards the end of the week, billet offers dropped dramatically by around USD 40/MT. Offers towards the end of week was noted to be around IRR 31,490/KG (USD 747/MT).

Global billet export market overview - Week 50, 2018

1. Billet export offers from CIS nations stand around USD 420-425/MT, FoB Black Sea.

2. Trade sentiments continue to remain weak in SE Asian regions, with buying interest at levels of USD 450-455/MT, CFR SE Asia for Billets of CIS origins.

News No: 2999
Date: 2018/12/20 - 00:13
News Source: SteelMint

Billet  MENA region  Iran Billet Export  economic sanctions  banking  insurance  shipping 

Comments:

Leave a Comment:

   
   
   
 

India: Vizag Steel Floats Billet Export Tender to Nepal

Rashtriya Ispat Nigam Limited (RINL)- the state-owned steel maker under the Ministry of Steel, has invited tender for export of 8,127 MT Billets (3 rakes) to Nepal. The minimum offered quantity for each product is 2,709 MT (1 rake).
 

Chinese Steel Market Highlights - Week 10, 2019

This week Chinese steel market remained abuzz with news over reduction of VAT and Tangshan pollution alerts. HRC and rebar export offers moved up over active buying. Billet export offers also inched up this week. Coking coal offers inched up over resumption in buying from China.
 

Oil Refiners Reveal Hints About Expected Boom

Oil refiners are getting ready for a boom. The plants in Europe and the US are scaling back planned maintenance later this year in anticipation of a surge in demand and fatter margins as the shipping industry gets ready for a historic fuel switch.
 

Iran: Domestic Billet Offer Rises Over Limited Supply

Iran domestic billet offers reportedly increased last week over the limited supply and increase in demand from the re-rollers. During last week, the billet offers almost reached USD 500/MT.
 

Chinese Domestic Steel Price Update - 28 Feb'19

Price of general carbon billet in Tangshan, Changli and Qian'an yesterday was settled at RMB 3, 470/MT ex-factory, up RMB 10/MT.
 

Iran Domestic Billet Offers Up by USD 15/MT W-o-W

Iranian domestic billet offers has risen sharply last week by USD 15-18/MT W-o-W mainly because of increase in demand from re-rolling industry and increase in exchange rate.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners