Iran’s domestic billets and rebar prices increased on the back of a rise in its exports prices along with a hike in domestic scrap prices. Mills believe that the upcoming power shortage will curtail steel production, resulting in a rise in prices.
- Steel billets prices increased by 500 Rial/Kg to 159,000 Rial/Kg as against the closing on 9 May’22.
- Rebar prices stood at 179,000 Rial/Kg on 11 May, a rise of 1,000 Rial/Kg.
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