Fresh proposal to amend Iranian billet, slab price assessments

After an extended consultation, Fastmarkets is launching a new proposal to amend specifications of its MB-STE-0782 steel billet export, fob ports Iran and MB-STE-0781 steel slab export, fob ports Iran assessments.

The initial proposal was published on May 1 and was extended on June 5 to get more market feedback.

The proposed new specifications are as follows:

MB-STE-0782 Steel billet export, fob ports Iran, $/tonne
Quality: 3-5sp,130x130mm to 150x150mm, length 12,000mm
Quantity: minimum 10,000 tonnes
Location: fob Iran
Timing: up to 8 weeks
Unit: USD/tonne
Payment terms: 10-30% prepayment, rest before vessel sail from seller’s port
Publication: Weekly. Wednesday, 2-3pm London time

MB-STE-0781 Steel slab export, fob ports Iran, $/tonne
Quality: Width 900-2,000mm, thickness 195-250mm, length 3,800-11,000mm
Quantity: minimum 10,000 tonnes
Location: fob Iran
Timing: up to 8 weeks
Unit: USD/tonne
Payment terms: 10-30% prepayment, rest before vessel sail from seller’s port
Publication: Weekly. Wednesday, 2-3pm London time

The extended consultation starts on Thursday July 4 and will end on Thursday August 1. The amendment will then take place, subject to market feedback, on Wednesday August 7.

To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these price assessments, please contact Vlada Novokreshchenova by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreshchenova, re: Iranian export billet and slab price assessments.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

What to read next
Fastmarkets is inviting feedback on the pricing methodology for MB-AL-0004 aluminium P1020A premium, in-whs dp Rotterdam and MB-AL-0346 aluminium P1020A premium, in-whs dup Rotterdam ahead of the definitive period of the European Union’s Carbon Border Adjustment Mechanism which starts from January 2026.
Cleveland-Cliffs expects 2025 to be a strong year for the company, citing decreasing interest rates, certainty after the US elections and an increase in manufacturing onshoring, top executives said in the company’s third-quarter earnings call on Tuesday November 5.
Fastmarkets proposes to assess and publish its graphite electrodes, high power, fob China and graphite electrodes, ultra high power assessments on a monthly basis, rather than on the previous fortnightly basis. The proposal follows Fastmarkets’ observations that these two commodities see inactive spot liquidity and low volatility in prices. The proposed new specifications for the […]
The polls officially opened in the US on Tuesday November 5 for the presidential election pitting incumbent Vice President Kamala Harris and former President Donald Trump.
The publication of Fastmarkets’ MB-PB-0086 lead 99.99% ingot premium, cif India and MB-PB-0087 lead 99.97% ingot premium, cif India assessments for Tuesday November 5 were delayed due to a reporter error.
The publication of Fastmarkets' China, Japan, Korea battery grade lithium assessments for November 4, 2024, were delayed because of a reporter error. Fastmarkets’ pricing database has been updated.