In a devastating incident, Iranian President Ebrahim Raeisi and his accompanying delegation lost their lives in a helicopter crash. The crash occurred while they were returning from the inauguration ceremony of a dam on the Aras River. In the wake of the president's departure alongside his delegation, the nation braces for a period of uncertainty until the election of a new leader.
The loss of the president has created uncertainty in the market. While foreign exchange offices are set to launch, the situation remains cautious due to expected conditions related to the upcoming presidential election. Rebar producers face liquidity challenges, and the pellet supply is limited. The coming weeks will reveal whether the market prefers to wait or takes its own course, with liquidity being a decisive factor.
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