Iran’s domestic billets and rebars prices saw a sharp increase amid shortage of electricity as steel mills are ordered to reduce consumption by 30%. Also, scarcity of direct reduced iron (DRI) supply in the domestic market has supported prices.
- Steel billets prices rose by 10,000 Rial/Kg to 161,500 Rial/Kg as against 14 Dec’22.
- Rebars prices stood at 189,000 Rial/Kg on 19 Dec, an increase of 8,000 Rial/Kg.
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