TEHRAN: Iran Daily reported that Iranian steel billet exporters are now almost fully sold until end of April but expect higher bids for their next deals,. Khouzestan Steel Co.’s Sales Deputy Bahman Tajalizadeh told S&P Global Platts that “Our 50,000 tonne billet cargo recently was sold at USD 520 per tonne FOB but we had a USD 540 per tonne bid for slab now.”
Mr Tajalizadeh added that “We still expect higher prices, I think USD 550 per tonne for late April or May-delivery will be practical within next ten days.”
A trader said that “Only a few of exporters accept new orders now and most of them prefer to be out of the market maybe until the next Iranian year (beginning from March 21) and after the New Year (Norouz) holidays.” He added that “South Kaveh Steel is in the market and has recently opened an exporting tender.”
The company announced Thursday it is going to focus on export markets more than before.
South Kaveh Steel’s sales deputy told reporters that “About one million ton of SKS billet will be exported in the next year, about 80 percent of total capacity.”
A trader in Tehran said that exports are being supported by Iran’s currency devaluation in the last few weeks and overseas prices are clearly more than the domestic market at the moment.
According to an Iranian Steel Producers’ Association, or ISPA, report published on the group’s website Thursday, some 6.55 million tons of steel products were exported in the ten months to January 20, which is up 48 percent from the same period in the previous year.
Some 5.36 million tonnes of semi steel products 2.95 million tonnes of billet and 2.41 million tonnes of slab were exported during the ten month period (up 89 percent year on year).
In contrast, exports of finished products fell sharply to 1.18 million tonnes during the same period down 25% year on year.
RCCI chief urges diplomats, business leaders to convert linkages into trade, investment
RAWALPINDI: President of the Rawalpindi Chamber of Commerce & Industry (RCCI), Nosherwan Khalil Khan called on diplomatic missions and international...
