Throughout the week, prices across the MENA region remained largely stable. While strong domestic demand and ongoing mega-projects in the Gulf countries continued to support prices, competitive offers from Iran and North Africa maintained pressure on export markets. Iranian billet and long steel prices, in particular, continued to serve as a regional benchmark, while premium markets such as Saudi Arabia and the UAE preserved higher price levels supported by domestic demand. In the short term, market direction will largely depend on Chinese export offers, scrap price movements, and the pace of construction activity across the Gulf region.
Saudi Arabia: Scrap Rally Drives Domestic Prices Higher
As import channels became increasingly constrained, producers turned aggressively to the domestic scrap market, pushing scrap prices up by $13/ton to record levels of $430-460/ton, depending on the region. This cost pressure drove domestic billet prices sharply higher to $660-680/ton EXW, while available supply was rapidly absorbed by the market. Rebar prices were assessed at $760-770/ton in the domestic market.
UAE: Global supply constraints and rising freight rates from Asia pushed imported billet prices delivered to Jebel Ali (CPT) up to $570-575/ton. EMSTEEL maintained its rebar price at $768/ton CPT, while general domestic market prices reached approximately $803/ton EXW. Ahead of the Hajj and Eid holiday period at the end of May, a wait-and-see approach dominated market sentiment.
Other Gulf markets weathered the situation more calmly. Bahrain kept regional rebar offers stable at $690/ton EXW, while Kuwait's market moved within the range of $670-685/ton.
North Africa: Export-Oriented Markets Remain Resilient
Unlike the logistical bottlenecks experienced in the Gulf, North African producers in the Mediterranean basin enjoyed a relatively favorable market environment in May. In Algeria, producers maintained a firm pricing stance, supported by healthy construction activity in the domestic market. AQS set its rebar export offers at $585/ton FOB, while domestic finished steel prices remained significantly higher at $730-742/ton EXW, providing strong support for local producers.
Egypt maintained a balanced performance in both flat and long steel segments. The country exported rebar at $620/ton FOB and hot-rolled coil (HRC) at $650/ton FOB. Meanwhile, billet import prices remained stable at $525-530/ton CFR, allowing producers to preserve healthy production margins.
Iran and Lebanon: Weak Demand and Delayed Purchasing Decisions
In contrast to rising costs across the rest of the region, declining exchange rates in Iran effectively froze market activity. Anticipating further price declines, major buyers and contractors postponed purchases. With infrastructure projects slowing, rebar prices were assessed at $410-420/ton EXW, while billet export prices stood at $405-415/ton FOB, remaining among the lowest levels in the region.
Geopolitical risks across the region and security concerns along Gulf shipping routes continued to negatively affect maritime transportation. Rising freight costs have reduced the competitiveness of Iranian-origin products. Additionally, a recent 26% increase in inland transportation costs has further intensified cost pressures on exporters.
Lebanese rebar prices reached approximately $635/ton CFR. Importers continued to operate with minimal inventories, closely monitoring global raw material price fluctuations and regional geopolitical developments.
Qatar: Stable Market Conditions Continue
Qatar's rebar market maintained a relatively stable trend during the first week of June. Despite ongoing military conflicts and geopolitical tensions in the region, price fluctuations remained more limited compared to many neighboring markets. Domestic rebar prices are currently trading at $695-720/ton, supported by government-backed policies, sufficient local supply, and steady demand from the construction sector. One of the most significant factors shaping the market this year has been the extension of the 10% customs duty on imported rebar and wire rod through the end of 2026. The increase in import duties from 5% to 10% in 2026 has supported domestic prices, reduced competition from imported products, and contributed to overall market stability.
Rebar: $718-722/ton (+$4) as of June 10, 2026 ▲
Oman: The impact of regional conflicts, rising energy and logistics costs, and risks associated with potential disruptions in the Strait of Hormuz have supported an upward trend in Oman's rebar market in recent weeks. Should geopolitical tensions in the Middle East persist, further price increases are considered likely in the coming months.
Rebar:$680/ton (-$5) as of June 10, 2026 ▼
Iraq's rebar market remained under pressure during the first week of June due to weak demand and the influx of low-priced imported material. Despite ongoing geopolitical tensions across the region, domestic demand has remained below expectations, while competitively priced Iranian-origin products have continued to exert downward pressure on prices. According to market sources, Iranian rebar offered on a delivered basis at around $480/ton has significantly weakened the pricing power of both domestic producers and regular importers. Among Iraq's leading producers, Van Steel and FF Steel were offering rebar at $610/ton and $605/ton respectively, while Mass Group maintained prices at approximately $645/ton. In contrast, prices among mid-tier producers declined to $550-560/ton, while lower-tier suppliers were offering material at $520-530/ton. In the short term, prices in Iraq's rebar market are expected to remain under pressure if low-priced Iranian supply continues and no meaningful recovery in demand emerges.
Rebar: $605-645/ton (leading producers) as of June 10, 2026 ▼
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