Iranian billet exporters have adjusted their bids in response to market sentiment in Asia. Working closely with Iranian mills, these exporters have reduced their bids for the upcoming export tenders. Notably, Khouzestan Steel (KSC) is currently conducting a competitive billet export tender, with potential bidders contemplating offers at $465-470/tonne fob Iran. This marks a decrease from the $481/t fob achieved by steelmaker Chadormalu in a recent tender. The revised bid range aligns more closely with the Far East market, especially when considering recent Indonesian sales of 3sp billet at $490/t fob. Given Indonesia's significant role as a buyer of Iranian semi-finished products like billet, the $465/t fob benchmark, factoring in freight costs, holds strategic importance. The current market conditions have rendered previous price levels unsustainable, with Iranian billet suppliers facing limited demand in the Gulf Cooperation Council region and exercising caution in their pricing strategies.