Iranian Export Billet, Slab Prices Climb

Iranian export semi-finished steel prices continued to climb in the week to Feb. 28, as customers accepted higher prices.

Metal Bulletin’s weekly price assessment for Iranian billet exports was $510-520 per ton FOB on Feb. 28, compared with $495-510 per ton FOB a week earlier.

Several cargoes of billet for April rolling were reportedly sold to (Persian) Gulf Cooperation Council countries and North Africa within the range of $510-520 per ton FOB southern ports of Iran.

This included one 50,000-ton cargo sold to the UAE and a 20,000-ton cargo to Oman.

A customer in Oman also booked a 25,000-ton position cargo from a trader at $525 per ton CFR—equivalent to $505 per ton FOB. However, the price was not included in the assessment, as it is a secondary market deal.

Sources reported a cargo of Iranian billet being sold to Egypt within the range of $510-515 per ton FOB.

Recent billet offers from Iranian mills were heard at $520-525 per ton FOB.

Meanwhile, the weekly Iranian export price assessment for steel slab increased to $515-535 per ton FOB on Feb. 28.

Mobarakeh Steel, the country’s largest slab producer, offered material at $535-540 per ton FOB, targeting the European market. No bookings have been heard so far.

Recent sales from the producer were heard at $515-520 per ton FOB.