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21 Feb

Traders hesitate to bid in Iranian billet tender

Esfahan Steel Company (ESCO), the sole blast furnace-route steel producer in Iran, is about to launch a 30,000-tonne billet export tender for May loading, which is due to close on Friday, Kallanish notes. The mill is targeting $505-510/tonne fob, but traders supplying overseas and the neighbouring Persian Gulf markets, except for Iraq and Afghanistan, are reluctant to bid.    The last round of ESCO and Khouzestan Steel billet tenders closed at $505/t fo…
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