Iranian Billet, Slab Export Prices Strengthen

Metal Bulletin’s weekly price assessment for Iranian export billet was $508-510 per ton FOB on Jan. 24, against $500-510 per ton FOB a week earlier, Metal Bulletin reported. Khouzestan Steel Company, the country’s largest billet exporter, was seeking $515-520 per ton FOB in its latest tender, but deals were closed within the range of $508-510 per ton FOB. The destination for the booked volumes was said to be Persian Gulf states. The Iranian material was reportedly offered to Thailand at $540 per ton CFR late last week, but the offer found no takers due to competition from lower-priced offers from China and India. The assessment of the Iranian export slab price rose by $20-25 per ton over the week, to $510 per ton FOB on Jan. 24. The country’s largest slab exporter, Mobarakeh Steel Company, was reportedly selling material at $510 per ton FOB in its latest tender. Southeast Asia and North Africa were said to be its destinations, Financial Tribune reported.