Iran: Domestic rebar, billet prices rise as power shortages strain production

Domestic billet and rebar prices in Iran continued to edge higher on 21 May against 19 May, largely driven by ongoing power supply issues in major steel hubs, which adversely affected production. However, with limited fresh triggers and thin market activity, further gains may be harder to sustain.

• Billet tags inched up by 9,000 rial/kg to 329,000 rial/kg.
• Rebar prices rose by 9,000 rial/kg to 389,000 rial/kg.