Posted on 08 May 2025
Despite a nearly 20% appreciation of the Iranian rial, driven by ongoing progressive negotiations between Iran and the United States, Iranian billet export prices are expected to remain steady.
In the latest round of tenders, ESCO – Iran’s sole blast furnace-route steel producer – is set to finalise a billet tender on 9 May, with bids due by office closing hours. The tender is for a 30,000-tonne cargo ready for early-July loading.
Chadormalu, another key supplier, will close its billet tender on 13 May also for a 30,000t lot, targeting shipment during the second week of June.
Market sources anticipate that upcoming deals will be concluded in the range of $415-420/t fob Iran, Kallanish reports.
KSC closed a billet tender in late April at $420/t fob for two lots of 30,000t each for end-June load readiness.
Although electricity restrictions began over six weeks earlier than in the previous year – tightening production availability – weak demand from the Far East has kept Iranian billet prices from rising.
Source:Kallanish
