- Firm DRI trend supports billet market
- Narrow billet-rebar spread adds support
Iranian billet prices increased by 25,000 rial/kg ($18/t) to 500,000 rial/kg ($363/t) on 23 February compared to 18 February, while rebar prices remained unchanged at 585,000 rial/kg ($424/t).
The rise in billet prices was driven by firm DRI trends and ongoing pellet shortages, which tightened raw material availability and pushed up production costs. The narrow spread between billet and rebar provided further support to billet values.
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