Tag: Iran: Billet and rebar prices rise as rial depreciation tightens steel market

Higher billet costs lift downstream rebar prices Tighter domestic supply contributes to price uptick Iranian billet prices increased by 176,000 rial/kg ($100/t) w-o-w to 1,025,000 rial/kg ($581/t), while rebar prices rose by 235,000 rial/kg ($133/t) to 1,220,000 rial/kg ($692/t). The increases were driven by the sharp depreciation of the rial, higher billet costs, and tighter…