Iran rebar prices for the week rose 3.1 percent to 15 million/ton Iranian Rial ($ 1,233/ton), a record high.
 
In recent weeks, Iran's billet imports shortage of steel tight supply. Calculation of the Islamic calendar, the month ended July 21, Iran's billet imports is estimated at 120,000 tons, while demand for 35-40 million tons.
 
As the domestic steel prices upward trend, traders temporarily shipping, waiting for prices to continue to rise. 150mm billet recently imported 12.1 million Iranian Rial/ton (986 U.S. dollars/ton, DDP, Anzali port), up 3% over the 10 days before. Domestic 120mm billet ex-factory price of 11.6 million Iranian Rial/ton (946 U.S. dollars/ton), but domestic production is far unable to meet demand.
 
The current official exchange rate of U.S. dollar against Iran for 1:12260, the unofficial exchange rate is rising day by day, to promote the rise of steel prices, as most traders had to use the unofficial exchange rate. Iran is likely to take measures in the coming weeks, efforts to narrow the gap between the two exchange rates.
 
Market participants on the future prospects are very worried. Due to Western countries, economic sanctions, imports will become increasingly difficult. Domestic production declined sharply, although the billet and rebar prices continue to rise, but still in short supply.



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