Iranian billet export prices [1] have remained stable at $410-420 per tonne FOB for standard grades, as weak demand continues to weigh on the market. Buyers in the United Arab Emirates and Oman are exercising caution, citing concerns about the risk associated with Iranian supply due to potential non-compliance with ECAS certification, a key requirement for rebar sales in the UAE.
By contrast, Southeast Asian suppliers raised their offers by $3-5/t on Monday, buoyed by renewed market optimism following tariff-related developments between China and the US. The sentiment shift has given suppliers confidence in adjusting their pricing, Kallanish reports.
In recent weeks, Esfahan Steel Company (ESCO)—Iran’s sole blast furnace-route steelmaker—finalized an export tender for 30,000 tonnes of billet scheduled for July loading, settling at $427/t FOB for high-manganese billet. Meanwhile, Chadormalu closed its tender after receiving a top bid of $415/t for 150mm 3sp billets and has since entered negotiations, aiming to lift the final price to $420/t or higher.
Similarly, SKS recently concluded an export tender initially announced at $418/t FOB, though market sources suggest the final transaction price settled closer to $410/t FOB for standard billet.
Further reflecting prevailing trends, a mill’s trading arm finalized a 20,000-tonne deal for 150mm 3sp billet at $410/t FOB just ten days ago. The equivalent CFR price was reported at $435/t for shipment to the Gulf of Oman port.
Sources:
[1] Iran billet prices steady, Asia lifts offers https://www.kallanish.com/en/news/steel/market-reports/article-details/iran-billet-prices-steady-asia-lifts-offers-0525/