Iran: Billet, rebar prices fall sharply on bearish sentiments

Iran’s domestic billet and rebar prices witnessed a sharp fall amid ongoing lockdown restrictions in China, competitive offers from Russia and falling IME billet prices, a reliable source told SteelMint.

• Steel billets prices fell sharply by 3,000 Rial/Kg to 160,000 Rial/Kg as against the closing on 16 May’22.
• Rebar prices stood at 181,000 Rial/Kg on 18 May, a fall of 2,000 Rial/Kg.