The fob Iranian ports, $ per tonne, steel billet export price assessment is being launched in response to growing export volumes, which increased by 25% on the year to 1.60 million tonnes in the first half of the current Iranian year (March 21-Sept 22, 2017), according to the Iranian Steel Producers Association.
The price assessment is for billet in cross-section dimensions from 130x130mm up to 150x150mm, and in lengths of 8,000-12,000mm, in quantities of 10,000-30,000 tonnes, with contract payment terms of up to 30% pre-payment and 70% letter of credit.
The consultation period for this proposed launch will end four weeks from the date of this pricing notice, on December 17, 2017, with changes taking place from January 10, 2018.
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Metal Bulletin proposes to launch a weekly price assessment for steel billet exports from Iran.