Posted on 25 Sep 2025
Iranian billet producers have stepped up efforts to secure export sales amid concerns that Far East market prices may soften after the second week of October, Kallanish notes.
Last week, ESCO awarded a tender for a 30,000-tonne parcel of commercial-grade billet for late-October shipment. Sources close to the mill say the deal was concluded at $420/tonne fob Iran, while market participants suggest the level was closer to $415/t fob.
This week, a trader received an unsolicited offer from an EAF-based producer at $417/t fob Bandar Abbas port for October shipment of commercial-grade billet.
Apparently, ex-Iran billet offers are seen settling at $415-420/t fob levels, with electricity supply to ease in October, meaning billet supply is likely to surge.
Source:Kallanish
