Iran might export billet to China
2017-07-19 16:14:28 [Print]
According to a trader, Iran will begin to export its billet to China soon and has received an enquiry of 30,000t from a Chinese trader, which is the first time for 15 years.
With increasing prices for steel and lack of billet supply in China, some traders have interest in importing the material from Iran. However, in view of the current 17% VAT and import taxes, some Chinese banks refuse to provide payment for Iran exporters, so there still exist some obstacles on importing billet from Iran. Iran mainly exports its billet to Jordan, UAE, Indonesia and Thailand. The exports to Indonesia and Thailand are increasing with export prices at about USD415/t FOB, and prices will have upward capacity in the future.
In Q1 (from March 20th to June 21st, 2017) of Iran calendar, Khouzestan Steel Company exported 809,400t of billet and slab, up by 66% YOY, and it aims to export 2 million tons in this year of Iran calendar (close on March 20th 2018). In Q1, Esco exported 258,700t of billet and slab, up by 88% YOY, and it aims to export 1 million tons in this year of Iran calendar. South Kaveh Steel exported 137,000t in Q1.
With increasing prices for steel and lack of billet supply in China, some traders have interest in importing the material from Iran. However, in view of the current 17% VAT and import taxes, some Chinese banks refuse to provide payment for Iran exporters, so there still exist some obstacles on importing billet from Iran. Iran mainly exports its billet to Jordan, UAE, Indonesia and Thailand. The exports to Indonesia and Thailand are increasing with export prices at about USD415/t FOB, and prices will have upward capacity in the future.
In Q1 (from March 20th to June 21st, 2017) of Iran calendar, Khouzestan Steel Company exported 809,400t of billet and slab, up by 66% YOY, and it aims to export 2 million tons in this year of Iran calendar (close on March 20th 2018). In Q1, Esco exported 258,700t of billet and slab, up by 88% YOY, and it aims to export 1 million tons in this year of Iran calendar. South Kaveh Steel exported 137,000t in Q1.
