Iran: Steel billet, rebar prices fall sharply after govt policy decision

Steel billet and rebar prices witnessed a sharp fall due to the Iranian government’s decision to limit the supply of billets at the Iran Mercantile Exchange (IME) and lower the exchange rate, sources informed.

• Billet prices decreased by 30,500 Rial/kg to 235,000 Rial/kg as against 27 Feb’23.
• Rebar prices stood at 300,000 Rial/kg on 1 March, down 27,000 Rial/kg.