Iran: Billet, rebar prices rise sharply as compared to 24 Dec

• Iran's billet prices jumped sharply by 18,500 rials/kg ($44/t) to 404,500 rials/kg ($963/t) on 29 December, while rebar prices increased by 12,000 rials/kg ($29/t) to 492,000 rials/kg ($1,172/t).
• Despite higher prices, Iran's steel market remains weak amid poor demand and liquidity stress. Budget changes may hurt small mills and favour integrated exporters while exports slow and currency pressures rise.