Iran: Domestic billets prices rise tracking sponge price hike

Iran’s domestic billets prices rose following an uptick in direct reduced iron (DRI) prices. However, rebar prices fell sharply due to unsold stock available at the warehouses, sources informed SteelMint.

• Steel billets prices rose by 500 Rial/Kg to 143,500 Rial/Kg compared to 16 Feb’22.
• Rebar prices stood at 157,500 Rial/Kg on 21 Feb, a sharp fall of 1,500 Rial/Kg.