Iran: Domestic billet prices witness a fall in recent trades at IME

On 1 Jul’20, around 59,119 t billets were offered at IME. However, only 12,618 t billet trades were approved, while the remaining 46,501 t lot was canceled by the government, as deal values of this lot have exceeded the government’s price guidelines. The average traded price was noted to be IRR 64,878/kg ($390/t), tax-exclusive, down IRR 3012/kg.