Iran: Domestic billet, rebar prices head southwards on bearish sentiments

Iran’s domestic billet and rebar prices witnessed a sharp fall amid low buying interest, falling prices at Iran Mercantile Exchange (IME) and upcoming power outages which are likely to occur within the next ten days, sources informed SteelMint.

• Steel billet prices fell by 500 Rial/Kg to 158,000 Rial/Kg against the closing on 23 May 2022.
• Rebar prices stood at 178,000 Rial/Kg on 25 May, a sharp fall of 9000 Rial/Kg.