Iran: Billet and rebar prices climb on elevated DRI prices, pellet shortages
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- Narrow billet-rebar spread supports price rise
- Billet prices rise on DRI cost pressure
Iranian billet prices increased by 8,000 rial/kg ($6/t) to 508,000 rial/kg ($364/t) on 25 February compared to 23 February, while rebar prices also rose by 5,000 rial/kg ($4/t) to 590,000 rial/kg ($423/t).
Iranian billet prices increased due to the continued surge in DRI prices and persistent pellet shortages, which tightened raw material availability and raised production costs. The narrowing spread between billet and rebar further supported upward adjustments in semi-finished steel values.
Rebar prices also higher in line with billet gains, as stronger input costs translated into finished product pricing. Active buying under the "cash-to-commodity" strategy and expectations of continued firmness helped sustain the price rise.
