Iran: Domestic billet prices edge soften on lack of fresh buying stimulus

Iran’s billet and rebar prices softened after recently hitting new peaks that were fuelled by extended power disruptions across major manufacturing hubs. However, with no fresh support and market activity sluggish, the upward trend has begun to fade.

• Billet prices decreased to 335,500 Rial/kg on 28 May, down by 3,500 Rial/kg from 26 May.
• Rebar dipped to 385,000 Rial/kg, down 10,000 Rial/kg on 28 May from 26 May.