Iran: Domestic billets, rebars prices rally continues amid inflationary expectations

Steel billets and rebars prices continued to head north amid inflationary expectations and an uptrend in the exchange rate. Limited billets supply due to a lack of stock of direct-reduced iron (DRI) has also supported prices.

• Steel billets prices increased by 1,000 Rial/kg to 236,500 Rial/kg as against 20 Feb’23.
• Rebars prices stood at 288,000 Rial/kg on 22 Feb, an increase of 8,000 Rial/kg.