Tag: Iran: Billet and rebar prices rise as rial weakness drives steel market higher

Higher rebar prices improve billet buying interest Rising global steel, iron ore prices influence market Iranian billet prices increased by 86,500 rial/kg ($54/t) w-o-w to 805,000 rial/kg ($499/t), while rebar prices rose by 110,000 rial/kg ($68/t) to 900,000 rial/kg ($557/t). The increases were primarily driven by a weaker rial and higher exchange rates, which lifted…