Iranian market opened on Saturday and witnessed an increase of around USD 4-5/MT in domestic billet price. Market opened on Saturday with the average price of around USD 450/MT.
Scrap price was down by around USD 0.50/MT and reached USD 339-340/MT. Rebar price was down by USD 1/MT and was traded at around USD 525/MT
However on Sunday the billet price again fallen down by around USD 5 to 8 owing to lack of high demand in the market.
As per market sources “ The prices of rebar also decreased by around USD 3-4 in average and still the difference between the rebar and billet price is around USD 72-75, it is possible that rebar price might go down.
Billet price on Sunday was around USD 445 and rebar was traded at around USD 520.
MSC Steel Slab SM was traded in IME IRR 19,500/KG, the quantity offered was 40,000 MT.
Source – Inputs from Planner
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