Iran: Domestic steel prices witness downtrend on weak demand

Iran’s domestic steel prices fell sharply on weak demand and increasing inventory at mills.

• Steel billet prices stood at 135,000 Rial/Kg, a fall of 3,000 Rial/Kg, w-o-w.
• Rebar prices fell by 1,000 Rial/Kg w-o-w to stand at 152,000 Rial/Kg.

In a recent update, the Iranian Steel Producers Association (ISPA) has protested against the government’s price-fixing on the Iran Mercantile Exchange (IME).