Billet: The surge in DRI price was the primary driver behind the rise in billet price.
Long Products
Rebar: Higher billet price led to an increase in the cost of rebar.
I-beam: An increase in the supply of 14mm I-beam resulted in a decline in the overall average price for I-beam.
Flat Products
HRC: In HRC market, despite the slight fluctuation, market remained effectively stagnant.
HRP: Supply and demand remained unchanged. Minor price fluctuations for Oxin plates were purely the result of exchange rate volatility in the secondary currency market (Secondary Hall).
CRC: CRC demand is currently on the decline. Prices are only being held up by high production costs and currency rates, which are preventing a downward adjustment.
HDG: nfluenced by HRC pricing, HDG price saw minor fluctuations, though the market remained essentially flat.
Weekly Analysis:
In the world market: The Chinese and various Far East markets are currently closed for holidays; consequently, all eyes are on China’s reopening. It is clear that once the Chinese market returns, there is no room for price cuts due to high production costs. However, if prices fail to trend upward, the resulting price stability will likely deepen the current recession, eventually forcing a reduction in production. Ironically, lower production volumes will further drive up unit manufacturing costs.
The market is currently in a "wait-and-see" mode, pending two critical factors:
1. China’s Reopening: The market direction should become clearer by the end of the week once Chinese traders return.
2. Geopolitical Tensions: The ongoing friction between Iran and the U.S. remains a major wildcard. The outcome is unpredictable, and should a conflict arise, its impact on the global economy remains an unknown variable.
As a result, all industry stakeholders are currently sidelined, waiting for more definitive signals.
In the domestic market: The domestic market has recently been swayed by exchange rate volatility in the secondary currency market (Secondary Hall). however, a price recovery is expected as the Chinese market reopens and export activities resume.
The bullish trend in DRI prices, coupled with a pellet shortage, has significantly bolstered billet prices. In fact, billets are currently trading at a very narrow spread compared to rebar. This surge prompted the Stock Exchange to issue a price-cap amendment to limit volatility; paradoxically, this regulatory move is expected to drive rebar prices even higher.
As we are in the last month of the year in Iran, flat products market is entering a recessionary phase. Buyers are showing little interest, preferring to roll over their quotas to the new year—likely waiting for a clearer resolution to geopolitical tensions.
In contrast, in long products market, the "cash-to-commodity" strategy remains prevalent here. Market participants are encouraged by the upward trend, or at the very least the stability, of billet prices, which continues to fuel buying sentiment.
CBI average ex-rate for Steel Products : Rials 1,378,769 / 1USD
23 Feb, 2026
M.Chitsaz
Iran Steel News Bulletin
IFNAA.IR
IRSTEEL.COM