UTC+8 ( BJT)

Iran: Billet export prices plunge in recent deal

ABSTRACT

Iranian billet export prices slipped by around $45/tonne (t) in a recent deal on lower Chinese buying indications close on the heels of the continuously down-trending Chinese rebar futures. According to data maintained with SteelMint, the Shanghai Futures Exchange (SHFE) rebar futures’ October contracts dropped by RMB 369/t ($58/t) week-on-week (w-o-w) to reach RMB 4,817/t ($755/t) on 27 May’21. However, on a day-on-day (d-o-d) basis, SHFE rebar futures settled with a rise of RMB 150/t ($24/t), showing signs of a rebound. However, it will be too early to predict the market trend, as buyers across the globe are in a wait-and-watch mode.
Confirmed deals Khorasan Steel Company, one of Iran’s leading steelmakers, sold 30,000 t of billets through a recent export tender, as per SteelMint reports. According to sources, the company concluded the tender at $645, FoB Iran for July ’21 shipments. Another leading steel exporter had floated an export tender for 30,000 t

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