Iran: Steel billet, rebar prices decline in domestic market

Prices in Iran’s domestic steel market declined further this week, as rebar demand dropped, dragging prices lower. Meanwhile, weaker buying interest and a cautious market sentiment led to a decrease in billet prices.

• Billet prices fell to 297,000 rial/kg on 30 Apr, down 1,000 rial/kg down from 28 Apr.
• Rebar tags dropped to 355,000 rial/kg on 30 Apr, down 5,000 rial/kg as against 28 Apr.