Iranian Billet, Slab Export Prices Strengthen

Iranian export billet and slab prices strengthened over the week that ended on Wednesday due to renewed bookings. 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.