Iran: Billet, rebar prices drop following govt’s move to control steel prices

Steel billet and rebar prices continued to fall sharply due to the Iranian government’s decision to lower billet prices in the domestic market, sources informed. Meanwhile, the fall in the exchange rate also weighed on prices.

• Billet prices decreased by 130,500 Rial/kg to 221,500 Rial/kg as against 1 Mar’23.
• Rebar prices stood at 265,000 Rial/kg on 6 March, down 35,000 Rial/kg.