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July bookings prices for Venezuelan hot-briquetted iron fell this week, following slumping Turkish scrap prices and with volatility at the lower price range, market sources said.

Platts Friday assessed July bookings of Venezuela HBI at $130-$150/mt FOB Venezuelan ports, down $15/mt from June bookings ($145-$165/mt).

Three deals were inked in June for 26,000 mt, 28,000 mt and 30,000 mt of HBI in the past weeks, sources said. Two vessels were sold to Europe, while another was directed to Central America. All three were deals closed with Ferrominera Orinoco's (FMO) HBI. Prices negotiated were $130-$140/mt FOB.

In a statement, President Ivan Hernandez of HBI producer Comsigua said the material passed to traders at $132/mt FOB, down nearly $200/mt from 2012 levels of $329/mt FOB.

A Venezuelan distributor said prices are being negotiated at $130/mt FOB, but noted that it could go lower if dealing direct with producers.

"FMO and Comsigua were offering at low prices, but then you'd have to also pay a percentage of commission," he said.

According to sources, production has been low in the country due to the lack of pellets, energy constraints, low bids and very low international prices for exports.

One Venezuelan trader offered a minimum quantity of 25,000 mt of HBI or a maximum 50,000 mt, with a contract period of one year renewable. "The delivery period is 30 days after payment. The expected price is $140/mt FOB, but it is subjected to change depending on the contract date," he said.

A Panama seller offered 50,000 mt for $130/mt FOB. One Canadian trader said he has 90,000 mt available per month, to sell FOB or CIF basis, with no intermediate.

"We are direct with the factory in Venezuela," he said, offering at $140/mt FOB.

A US trader offered 20,000 mt at $140/mt FOB of HBI from Ferrominera Orinoco, and detailed the process to acquire the material: "First send a mandate letter issue to FMO with a brief introduction of the company, the monthly quantity needed, port and country of destination, and purpose of the product," he said.