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Mar.29.2024 1USD=7.0948RMB
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Iranian Exporters to Resume Billet Sales to China after the National Day Holiday

https://en.steelhome.com [SteelHome] 2019-10-15 16:56:09

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Iranian exporters have resumed billet sales to China as Chinese buyers return to the market after the previous National Day holiday.

Meanwhile, it is reported that a batch of 30,000 tons of immediate shipment billet resources was booked by Chinese buyers at the price of 405-410 US dollars/t (CIF, China), which was equivalent to the FOB price of 365-370 US dollars/t.

At the end of September, Iranian billet was sold to Southeast Asia, China, the Middle East and North Africa at a FOB price of 340-350 US dollars/t with laycan during November and December.

After the long holiday, Indonesian billet buyers set the CFR quotation of 375-380 340-350 US dollars/t for Iranian billet, which was equivalent to the FOB price of 335-340 US dollars/t at Iranian ports, but no transaction has been reached.

One trader said that the billet resources with laycan during November shipped by Iranian steel mills were almost sold out, and even billets with laycan during mid-December shipped by some steel mills have been booked, so no one has the intention to cut prices in the short run.

In addition, on October 9, the FOB reference price for Iranian billet was 340-350 US dollars/t, a slight decline from the previous reference price of 342-350 US dollars/t.

In terms of slabs, a batch of Iranian slabs was reportedly sold to China at a CFR price of 385 US dollars/t, equivalent to the FOB price of 340-345 US dollars/t.

On October 9, the FOB reference price for Iranian slabs was 340-345 US dollars/t, down 5 US dollars/t week-on-week.
(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837)
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