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See live rates for USD, EUR, 18k gold, the global gold ounce and steel billet right here — five variables that directly or indirectly move rebar, I-beam and section prices.Live USD, EUR, gold, ounce and steel billet — the five numbers that move steel prices.
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The dollar and steel billet usually reach steel product prices a few weeks later — see today's rebar, I-beam and profile prices.
View steel pricesHow it works
Steel billet, the main raw material for rebar and I-beams, is priced on Iran's commodity exchange based on the dollar cost of imported iron ore and scrap. When the dollar gets more expensive, this cost rises for mills and usually affects the final price of rebar, I-beam and sections within a few weeks.
The global gold ounce also affects steel prices, though from a different angle than the dollar. When concern about inflation or global economic instability rises, capital tends to flee to both gold and base metals like iron and copper at the same time, since both are considered physical assets. That's why the gold ounce and global steel prices often move together during volatile periods, even without a direct link.
The dollar gets more expensive, so the cost of imported iron ore and scrap rises for mills.
Iran's commodity exchange updates the steel billet rate with this new cost.
Mills set rebar, I-beam and section prices based on the new billet cost.
This effect is usually seen in the steel market within a few weeks, not the same day.
| Variable | Role in steel prices |
|---|---|
| USD | Mills' dollar cost of imported iron ore and scrap |
| EUR | Indirect effect, mainly European machinery and raw materials |
| 18k Gold | Domestic reflection of the global gold price and the dollar rate |
| Gold Ounce | A risk-aversion and global inflation gauge |
| Steel Billet | The main raw material and direct driver of rebar and I-beam prices |
Questions
Because steel billet, rebar's main raw material, is priced on Iran's commodity exchange based on the dollar cost of imported iron ore and scrap. A more expensive dollar raises this cost for mills and usually affects the final price of rebar and I-beam within a few weeks.
When concern about inflation or global economic instability rises, capital tends to flee to both gold and base metals like iron and copper at once, since both are physical assets. That is why the gold ounce and global steel prices often move together during volatile periods.
Usually not. Mills set prices based on recent-day rates, not instantly, and existing inventory or pre-signed contracts can delay the effect by days to weeks. The relationship between the dollar and steel prices moves in the same direction, but not at the same time.
The euro's effect is weaker and more indirect, since iron ore and scrap purchases on the global market are mostly priced in dollars. The euro matters more for mills that import specific machinery or raw materials from Europe, not for the steel market as a whole.
The steel billet rate is read from the market's published price, and Ahantime's specialists monitor it and correct it when needed; the number you see is Ahantime's reference rate.
Not precisely. The dollar is one of several key variables, not the only factor: domestic supply, export policy and even mill inventory levels also affect the final price. The dollar rate shows the direction steel prices are moving, not the exact size of the change.
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