Iranian steel billet export prices continued to rise in the second half of July on improving demand from China, but availability is being constrained by a slowdown in steel production caused by electricity shortages, sources told Fastmarkets on Wednesday July 21.
Extreme heat and drought conditions, combined with industrial growth and high energy-use cryptocurrency mining were cited as the reasons behind a wave of power outages in the country since the start of May."Our production now is only 1,000-2,000 tonnes...