Iran: Billet, rebar prices edge up amid increase in exchange rate

Billet prices in Iran increased this week following a hike in the exchange rate and surged amid rumors of potential gas cuts. Despite the rise in rebar prices driven by the exchange rate, demand remained weak, sources informed BigMint.

• Billet prices rose by 2,500 Rial/kg to 250,000 Rial/kg on 28 Oct’24 as against 23 Oct.
• Rebar prices increased by 2,000 Rial/kg to 299,000 Rial/kg on 28 Oct.