Tag: Iran currency rates

Potential production cuts encourage inventory building Weaker rial, pellet premiums raise steel price expectations Iranian billet prices increased by 20,500 rial/kg ($12/t) w-o-w to 849,000 rial/kg ($491/t), while rebar prices rose by 35,000 rial/kg ($20/t) to 985,000 rial/kg ($570/t). The increase was driven by higher inflation expectations, supply constraints, and active stockpiling by traders. The…