Tag: rial exchange rate

Iranian billet prices declined by 26,000 rial/kg ($18/t) w-o-w to 578,500 rial/kg ($396/t) on 22 June, pressured by expectations of a stronger rial following improving Iran-US relations, which reduced export competitiveness and weakened demand from both domestic and overseas buyers. Market participants largely postponed purchases in anticipation of further price declines, contributing to slower trading…