NEWS
IRON and STEEL   Scrap & Recycling  

Iranian Billet Export Offers Down by USD 10/MT W-o-W

Iranian billet export offers witnessed a downfall in current week. Offers decreased almost by around USD 10/MT W-o-W to around USD 390-400/MT FoB. Last week, billet export offers of Iran were noted to be around USD 400-410/MT FoB.

As per SteelMint’s assessment, although the asking price for Iranian billet is noted to be around USD 390-400/MT, but the buying interest is assessed around USD 385/MT.

As per one Iranian source, “One of the major reason for the downfall of billet export offers is the downward trend of scraps and marginal corrections of CIS billet offers. He added, recently a major Iranian exporter has exported 25,000 MT billet to Gulf region at USD 385/MT FoB.”

Iran Domestic Billet Offer Rises over IME's New Policy

During week 7 (09-14 Feb’19), Iran market was close four days due to national holidays. Market opened on 12 Feb’19, domestic billet offers were noted to be around IRR 40,610 /KG (USD 469/MT). Prices remained stable on next day. Towards the end of week, billet offers were noted to be around IRR 40,100 (USD 463/MT).

During last week, scrap offers in Iranian domestic market was noted to be around IRR 30,410 – 31,230/KG (USD 351-360/MT). Domestic rebar offers were ranged from IRR 44,590 - 45,360 /KG (USD 515-523/MT).

As per Planner, “Prices are hiking sharply due to new price policy by IME, also currency fluctuations has led to hike in price. Prices are also affected partly due to seasonal demand as well.”

News No: 3977
Date: 2019/03/12 - 13:52
News Source: SteelMint

Billet Export  FoB  scrap  IME  rebar 

Comments:

Leave a Comment:

   
   
   
 

Global HRC Market Overview - Week 12, 2019

Chinese HRC export offers inch up following strengthening domestic market - Nation’s HRC export offers continue to move in upward direction following increase in domestic prices.
 

Pakistan: Imported Scrap Prices Stable in Recent Deals

SteelMint learned in recent conversation with participants that imported scrap market in Pakistan has observed improved buying interest amid improving local market sentiments this week.
 

Bangladesh: Imported Scrap Market Silent amid Subdued Demand

SteelMint learned from industry participants that imported scrap market in Bangladesh has observed very limited trades for imported scrap amid subdued demand this week.
 

South Korean Ferrous Scrap Imports Hit 4 Year High Amid Increased Bulk Imports

Japanese scrap exports to South Korea recorded above 0.40 MnT mark successively for the 2nd month while US scrap exports hit 5-month high in Feb'19
 

Turkey: Imported Scrap Prices Range-Bound in Recent Trades

SteelMint learned from industry participants that Turkey’s imported scrap market has observed limited bookings so far this week at almost stable prices. However, steel mills remain hesitant to buy aggressively amid high offers and weak finish steel demand.
 

Bangladesh: Ship Breaking Imports Fall Sharply in Feb 2019

Bangladesh- one of the world's largest ship re-cycler and has remained still in the top buyers list of ship breaking scrap in Feb’19. Scrapped ship imports fell to 21 in Feb'19, as per the SteelMint’s assessment.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners