Export prices for Iran-origin steel billet and slab have slipped in recent sales because demand was only modest in the main outlet markets in Asia and the Gulf Co-operation Council (GCC) countries.
Most customers preferred to take a wait-and-see stance, Fastmarkets heard on Wednesday May 26.
Billet
One of the country's major billet exporters, Khouzestan Steel, was said to have sold 30,000 tonnes of billet late last week, scheduled for shipment in mid-July, at a price of $690 per tonne fob southern Iranian ports. The cargo was said to be destined for the GCC market.
The mill had been hoping to achieve $720 per tonne fob.
The cost of freight from the south of Iran to GCC countries was estimated to be in the range of $16-20 per tonne. This would make the price equivalent to $706-710 per tonne cfr, excluding trader's margin and extra costs, which normally add up to $10 per tonne.
A source on the...