Tag: snapback sanctions impact

Billet prices rose 9,000 rial/kg ($21/t) to 349,500 ($831/t) and rebar gained 10,000 rial/kg ($24/t) to 390,000 ($927/t) from last Wednesday. The market braces for snapback sanctions, expected to fuel stagflation with higher forex, interest rates, and reduced investment. Billet and pellet market stability hinges on export currency inflows, while exports provide limited relief. Steel…