Commercial activities within the Iraqi rebar market have come to a standstill, reflecting a state of stagnation that has permeated the sector. Conflicting reports regarding pricing shifts from domestic suppliers have left the market in a state of uncertainty, while exchange rate fluctuations add further complexity to the pricing landscape.
Steelmakers’ Rebar Prices:
Iraqi steelmakers, producers of rebar via the electric arc furnace process, have set their prices within a range of $650 to $720 per ton at the factory door. This marks a slight increase from prices observed two weeks prior, where rebar was sold for $650 to $710 per ton.
Scrap Supply Situation:
Despite the stagnant market, rebar producers affirm an ample supply of scrap in northern Iraq. Efforts by authorities to address supply concerns have yielded positive results, with an improved supply chain from the southern region contributing to the increased availability of scrap.
Factories Using Imported Billets:
Factories that utilize imported billets in their rebar production are attempting to sell rebar at the factory door for a price range of;
Minimum: $630 per ton
Maximum: $635 per ton
Factories based in Basra continue to sell their rebar products at a consistent price of $600 per ton at the factory door. This price remains unchanged compared to three and a half months ago.
Induction Furnace Manufacturers:
These manufacturers are currently targeting prices of $570 to $580 per ton at the factory door for rebar.
In mid-March, they were selling rebar at prices ranging from $570 to $575 per ton.
Stability During Ramadan:
According to a businessman, there has been no change in prices since the beginning of Ramadan. The steel market is described as stable and stagnant.
Iranian Suppliers and Holiday Impact:
Iranian suppliers are not actively participating in the Iraqi market due to the ongoing holiday in their country. Consequently, they are not supplying a large quantity of rebar to Iraq.
Recent Iranian Rebar Prices:
Last week, the offered prices for Iranian rebar were in the range of $445 to $460 per ton, delivered to the factory door. Two weeks ago, the price was slightly higher, ranging from $450 to $460 per ton.
Türkiye's Rebar Prices:
Turkish rebar can now be traded at $600 to $625 per tonne ex-factory in Iskenderun. Previously, the price range was $595 to $620.
Iraqi Traders in Baghdad:
Iraqi traders in Baghdad are currently offering Iranian rebar at a price of approximately $515 per ton, delivered to the warehouse door.
This price has remained unchanged over the last two weeks.
High-Quality Rebar from Iran:
The price of high-quality rebar originating in Iran and available in Baghdad is $575 per ton, delivered to the warehouse door.
This price has remained consistent since mid-February.
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