Iran: Billet prices fall sharply on weak market sentiments

Iran’s domestic billet prices witnessed a sharp fall amid low buying interest and falling billet prices on the Iran Mercantile Exchange (IME), while prices of rebar rose sharply. However, rebar prices are likely to edge down, sources informed SteelMint.

• Billet prices fell sharply by 1,500 Rial/Kg to 158,500 Rial/Kg as against the closing on 18 May’22.
• Rebar prices stood at 187,000 Rial/Kg on 23 May, a sharp rise of 6,000 Rial/Kg.