The Iranian domestic billet market has experienced a significant slowdown as production has been curtailed due to natural gas shortages and other constraints. Despite low availability, billet prices have seen a slight decrease, with current offers around $456-458 per tonne FOB Iran. Buyers are resisting higher prices, maintaining bids at $455 per tonne. The situation is complicated by reduced demand from key markets such as Egypt, which is facing a foreign currency crunch. As a result, Iranian billet producers are struggling to find acceptance for their prices in both domestic and international markets.