China's domestic steel prices rises and there is a gap of square billet supply, some traders are interested in importing from Iran. However, in view of the current 17% VAT and import duties, as well as some Chinese banks refused to pay the Iranian exporters, there is still some difficulties to import square billet from Iran. Iranian square billet is mainly sent to Jordan, the United Arab Emirates, Indonesia and Thailand, exports to Thailand and Indonesia are increasing, the export price of about 415 US dollars / ton (fob), the future price there is room to rise.
In the first quarter of Iran (March 20 to 21 June 2017), Huzesstein Steel exported 809,400 tons of billet and slabs, up 66% year-on-year, with the target of Iran's current year (March 2018 20 days) exports 2 million tons. In the first quarter, Isfahan Iron and Steel Company (esco) exports 258,700 tons, up 88%, the currently goal is exported to 1 million tons this year. Another billet producer southkavehsteel (sks) exported 137,000 tonnes in the first quarter.