During the past two weeks, domestic billet prices in Iran have increased by $5/mt on the upper end to $360-365/mt ex-works. Uncertainties in the market have not yet ended after the presidential election held on May 19, while it is believed the future trend of the local billet market will become clearer in the coming days. In the meantime, domestic billet demand in Iran is still weak, though prices have increased slightly due to the lower supply volume.