Tag: Iranian rial depreciation

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…