Iranian mills are receiving the highest bids for standard billet in export tenders at $420/tonne fob, Kallanish notes.
This week, Arfa Iron & Steel and Iran Alloy Steel, both located in the province of Yazd, are scheduled to close their tenders, with industry participants expecting $417-420/t fob as the closing figure.
Meanwhile, billet producers are waiting to see how China will return from the Lunar New Year holiday, how fast markets will reopen and where semis prices will settle.
"We have been waiting to see how China will return, but have seen Russian billet prices offered at $425-430/t fob [Black Sea] in the last week. We wonder where prices will go from here," comments a trader.
