Iran’s domestic billet prices continued to drop this week due to tepid demand, lower exchange rate and weak export market sentiments. Meanwhile, liquidity issues and negative finished steel market trend have put pressure on rebar prices as well, sources informed BigMint.
- Billet prices fell by 500 Rial/kg to 225,000 Rial/kg as against 8 May.
- Rebar prices stood at 271,000 Rial/kg, a decrease of 3,000 Rial/kg.