Iranian export billet and slab prices dipped in late April as lower offers and bid prices were heard in the market.
A few offers for Iran-origin billet were heard at $345 per tonne fob southern ports, compared with the $350-355 per tonne fob targeted
by mills a week earlier.
However, even with the discount, the price was considered too high by market participants.
Bids from customers in China were heard at $360-365 per tonne CFR, which – excluding freight and extra costs – would be equivalent to $330-335 per tonne fob Iranian ports.
Customers in Southeast Asia, which has previously been one of the main outlets for Iranian semi-finished steel products, were inactive due to the impact of measures taken to curb the spread of the Covid-19 virus.
Fastmarkets’ weekly price assessment for steel billet, export, fob ports in Iran, was $335-345 per tonne on Wednesday, April 29, against $345-350 per tonne fob a week earlier.
Slab offers were also reduced on Wednesday to $325 per tonne fob Iranian ports, compared with $325-330 per tonne fob a week ago.
No fresh bookings were heard by the time of publication, as customers consider the current offers too high. Bids were coming in at $315 per tonne fob.
“Competition is tougher now, with Brazilian and Indian suppliers targeting the Chinese market because the United States and Southeast Asia are weak right now,” one trader said.
Fastmarkets’ weekly price assessment for steel slab, export, fob ports Iran, was $315-325 per tonne on April 29, down from $325-330 per tonne fob a week earlier.