Iran: Domestic billet prices rise on higher DRI costs, while rebar tags drop

Iran’s domestic billet prices rose this week, driven by rising direct reduced iron (DRI) costs and an increase in the exchange rate. However, rebar prices fell amid weak finished steel market sentiments, sources informed BigMint.

• Billet prices climbed up by 1,500 rial/kg to 289,500 rial/kg on 3 Feb against 29 Jan.
• Rebar tags decreased by 2,000 rial/kg to 328,000 rial/kg on 3 Feb as against 29 Jan.