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

Iran’s domestic billet prices have dropped by IRR 3527/kg ($37/t) in yesterday’s trade event hosted by the Iranian Mercantile Exchange (IME). Approximately, 90,900 t billets were traded at an average price of IRR 77,373/kg ($410/t). From the last two weeks, the mills did not offer billets at IME, due to cost viability concerns.