Economy, Business And Markets

Billet Export Prices Increase

Billet Export Prices Increase Billet Export Prices Increase

Iranian steel billet export prices increased by $5 per ton over the week that ended on Feb. 14, with deals being reported at the higher prices.

Metal Bulletin’s weekly price assessment for Iranian billet exports was $490-495 per ton FOB on Feb. 14, against $485-495 per ton FOB a week earlier.

Market participants reported several cargoes of Iranian billet being sold at $490-495 per ton FOB earlier this week, to the UAE, Oman and countries in East Asia.

Total billet export sales from March production were 70,000-80,000 tons.

Sales from April production are expected to be at prices higher than $500-505 per ton FOB because of the international increase in steel prices and strong demand in export markets.

The weekly export price assessment for steel slab was unchanged at $505-510 per ton FOB on Feb. 14, with some deals heard concluded within that price range.

Mills have closed their March production but have not started selling April production yet.

Market participants believed that April’s export prices will be a minimum of $510-515 per ton FOB, because international slab prices are no lower than $520 per ton FOB at present.

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