Iran Steel Market Today | Rebar and Steel Billet Price Outlook October 2026
Iran Steel Market at a Crossroads: High FX Rates Meet Softer Billet Prices and Firm Rebar
The Iranian iron and steel market has entered October 2026 with conflicting signals. Elevated currency levels continue to support finished steel prices, while recent declines in steel billet and direct reduced iron prices are easing part of the cost pressure on producers.
Latest available market data show that many commonly traded rebar products remain at relatively high price levels. On September 26, several 14 mm A3 products were quoted between roughly 84,000 and more than 90,000 tomans per kilogram, depending on the mill, brand and delivery point. سهمینو
Despite these high levels, the rebar market is not moving in a single direction. Some producers have kept quotations unchanged while others have made limited adjustments, indicating that buyers remain cautious and that the market has yet to establish a broad-based upward trend.
Iran Mercantile Exchange data provide another important signal. In the week ending September 16, nearly 99% of the rebar offered was sold, yet the weighted average transaction price declined by approximately 1.7% to around 84,293 tomans per kilogram. This suggests that demand remains present but is increasingly price-sensitive. Vana News
Upstream conditions have also become less inflationary. In the September 14 billet session, more than 96% of the offered volume was sold, while the weighted average steel billet price fell by about 2.7% to roughly 70,778 tomans per kilogram. Vana News
Direct reduced iron delivered an even stronger correction signal. On September 20, the full 75,500 tonnes offered were sold, but the average price fell by more than 10% to approximately 37,239 tomans per kilogram. Vana News
The latest exchange offerings also show that billet and rebar remain central to steel-market activity. On September 26, the market saw offers including 14,250 tonnes of bloom billet, 15,000 tonnes of alloy bloom, 6,751 tonnes of wire rod and 5,900 tonnes of alloy rebar. Madan News
Together, these figures reveal a two-sided market. Currency pressure and replacement costs are limiting the potential for sharp price declines, while softer raw-material prices are preventing production costs from accelerating at the same pace seen earlier in September.
As a result, the direction of the Iran steel market in the coming weeks will depend heavily on steel billet prices, foreign-exchange movements, Iran Mercantile Exchange activity and real demand from construction projects.
If billet prices begin to rise again, rolling mills may have more room to raise rebar prices. If upstream costs remain stable and end-user demand stays weak, however, the market is more likely to experience selective and moderate price movements rather than a broad rally.
Overall, the market is neither in a clear correction phase nor in a confirmed new price surge. For buyers, contractors and steel traders, closely tracking rebar prices, steel billet prices, exchange rates and commodity exchange transactions will remain essential in the first weeks of October.