Rebar Prices in Iran Falling

TEHRAN (FNA)- Iran’s rebar prices are still falling. 12 to 25-millimeter rebar prices have dropped to around USD 1,000 per tons compared to USD 1,050 per tons a week ago.

Azarbaijan Steel failed in its rebar sale on the Iran Mercantile Exchange because the buyer asked for USD 880 per tons which the mill thought was too low. Some agents facing the same situation offered USD 1,020 per tons for Chinese rebar.

Rebar shipments have decreased by a large volume because buyers are delaying their purchases as prices continue to drop. Some private mills are forced to sell at lower prices for cash under the condition of the current market recession.