Iranian semi-finished steel suppliers have started suspending orders for November and December. In addition to last week’s export deals, a significant volume of goods was sold again this week.
Esfahan Steel Company (ESCO) recently sold 60,000 tons of billets at $466/ton FOB, with the destination undisclosed. Another major electric arc furnace (EAF) producer also concluded a similar 60,000-ton billet order at $465/ton FOB last week, scheduled for December shipment.
Current Pricing and Market Sentiment
Iran’s electric arc furnace billet is currently priced between $455 and $465/ton FOB. Although the optimistic outlook in the Chinese market is supporting some sellers, the sustainability of this trend remains uncertain. There is skepticism among some market participants about how long the upward momentum will last.
The North African market is showing interest in Iran’s current billet prices, with recent counter-offers for 5,000 tons around $455/ton FOB (approximately $500-505/ton CFR).
IF Billet Offers
Recent offers for Induction Furnace (IF) billets have ranged from $435 to $450/ton FOB, compared to last week’s range of $440 to $455/ton FOB.
LangZo Steel assesses that the current price for Iranian billets is approximately $465/ton FOB.
