Mobarakeh Invites HRC Bids for March Shipment

Iran’s Mobarakeh Steel Company has stopped selling hot rolled coils for February shipment and started inviting bids for March shipment.  The price idea and its direction are expected to gain clarity after the end of the holiday period in China. The supplier continues to give preference to domestic HRC buyers, therefore export volumes remain limited, Metal Expert reported. In the first half of January, MSC managed to sell limited tonnage of HRC (to be shipped in February) to the Middle East at $510/ton FOB, which is $10/ton higher compared to previous sales.  The supplier’s initial price idea for the recent round of exports ranged from $520-530/ton FOB. The new tender is expected to be announced this week. Export HRC volume from MSC for March shipments will still be rather limited, as the producer continues to concentrate on local sales.  No price idea for the overseas outlets has been disclosed yet, as the seller is expecting HRC indications from the Chinese side.  “Currently Middle East and Far East are our target markets, but we cannot reveal our price idea yet. It will depend on the market situation,” a company’s representative said.  MSC intends to sell small quantities of hot-dip galvanized steel as well.