Iran: Domestic billet prices at IME falls sharply

The domestic billet prices have witnessed a sharp drop of IRR 5,532/kg ($22/t) in a recent trade event hosted by the Iranian Mercantile Exchange (IME). The price drop is likely because of the recovery of IRR against $. According to SteelMint sources, On 6 Oct’20, approximately 82,400 t billets traded at an average price of IRR 93,612/kg ($376/t).