Tag: Persian Gulf tensions

Iran-US, Persian Gulf tensions increase market uncertainty Higher global iron ore, freight costs support steel prices Iranian billet prices rose by 37,000 rial/kg ($23/t) w-o-w to 842,000 rial/kg ($512/t), while rebar prices increased by 80,000 rial/kg ($49/t) to 980,000 rial/kg ($596/t). The sharp increases were primarily driven by exchange-rate volatility and heightened concerns over future…