Iran: Billet, rebar prices sink on bearish market sentiment

Iran’s domestic billet and rebar prices witnessed a sharp fall due to weak demand, falling global prices, the government’s interference to control the billet and rebar market and declining prices on Iran Mercantile Exchange (IME), sources informed SteelMint.

• Steel billet prices fell sharply by 10,500 Rial/Kg to 147,500 Rial/Kg as against the closing on 22 Jun’22.
• Rebar prices stood at 177,500 Rial/Kg on 27 Jun, a decrease of 6,500 Rial/Kg.