NOTE: No news updates over January 24-30 due to the Chinese New Year holiday. Happy CNY!

Iran billet exporters lift offers following China deal

This was the second consecutive week, when Iran billet export market reported trade active. The country booked around 40,000-50,000 MT billets to China at USD 410/MT CFR levels and the shipment is scheduled for Jan'20. This deal has marginally raised the country's billet offers by USD 5/MT. SteelMint assessment for Iranian billet are standing at USD 375/MT, FOB Iran.
Currently domestic billet prices in China's Tangshan are assessed at RMB 3460/MT (USD 492/MT) including VAT. As was foreseeable by marketers, the scrap import restrictions in China are driving the billet imports in the country which is being supported by Turkey's imported scrap prices. As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap is standing at USD


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