In the middle of last week, prices in the local Iranian long steel market started to move down. Accordingly, as of the end of last week, domestic
rebar prices in
Iran had declined by IRR 17,000/mt ($1/mt) to IRR 15,583,000/mt ($511/mt) ex-works, including nine percent VAT. Meanwhile, demand in the local Iranian
rebar market, which decreased with the start of Ramadan on June 6, is expected to remain at low levels in the coming period.
$1 = IRR 30,506