iran iron ore fob price in bandar abbas

Iran iron ore fob price in BND has been announced with a price jump, driven by the growing global price of iron ore and consequently prices for scrap and steel.

The breakdown of the Brazilian Vale Corporation’s waste dump, which occurred about six weeks ago, has reduced the supply of iron ore on the international market. The forecast for supply shortages in 2019 is due to the occurrence of recent laws and decisions that have been approved for its activities. These events were the driving force behind the rise in global iron ore prices. Subsequently, the iron scrap price in the European Union and Japan also went up. Continued growth in the price of scrap iron and iron ore has caused a positive signal on the price of steel and raised it.

Iron ore Iran export

The rise in prices in the world market affected on the iran iron ore fob price exports also the price of iron ore in the domestic market. And subsequently the prices of iron scrap then steel products.

Bandar Abbas iron ore price

The Iran iron ore fob price in Bandar Abbas for a magnetite iron ore 62 fe price grade is 51.1 $/ton, delivered by FOB on March 6, 2019. For 62% hematite iran iron ore fob price, the price is set at $ 50.1. The price of steel products is also rising. Iran steel billet price has been sold for $ 400 per tonne this week, which, thankfully, has been a good growth. Although the export rate for Iranian Steel Billet is still lower than the cis billet, due to embargo sanctions against Iran and the high cost of international transportation.

Iran steel billet price

The increase in the iron ore export prices and steel Although a very positive event for our country’s exports, there have been many developments that some have caused a problem. One of the negative developments is the collapse of rolling mills with a shortage of steel ingots. In response to rolling mills, steel ingots mills announced that due to lack of customer in the domestic market, they have shipped their products in the export sector and sold their products in the next two months.

This issue is being resolved through the Steel Association of Iran by holding a meeting and the decision to conclude a long-term contract for large rolling mills with steel ingot companies.

Magnetite iron ore sales contract

The sale of iron ore magnetite without intermediary and direct to the steelmaking units is carried out by Simurgh Iron and Steel Company. If we do not submit an application from domestic manufacturers to buy iron ore, we will export this product to China in our work plan. The discharge will take place at Qingdao Port.