The Middle East steel market continues to show regional differences in pricing, shaped by local demand conditions, production economics, and logistics factors.
Iran remains one of the region’s lowest-cost producers, with rebar priced at $410–430/ton EXW, billet at $420/ton FOB, and slab at $410/ton FOB. High-quality iron ore pellets command a premium: 66% Fe pellet is priced at $93.37/ton FOB, while 64% Fe pellet stands at $85.49/ton, reflecting quality-based valuation.
In Kuwait, domestic rebar prices have slightly declined to 170–171 KWD/ton EXW ($556–560), indicating a drop of 1 KWD/ton (approx. $3.27). This softening is attributed to weakening construction demand, market corrections, or shifts in local supply chain costs, signaling reduced pressure on the domestic market.
In Bahrain, rebar prices remain stable at $578–580/ton CPT. The UAE holds steady at $640/ton EXW, supported by ongoing infrastructure projects. Additionally, HRC is priced at $480/ton CFR and billet at $465/ton CFR, reflecting balanced import dynamics and regional competitiveness.
Egypt reports one of the region’s highest domestic rebar prices at $655/ton EXW, while domestic HRC stands at $577/ton. However, Egypt's billet export price of $495/ton CFR remains competitive, positioning the country as a potential supplier to neighboring markets.
In Iraq, rebar prices vary significantly: in the north, prices range from $615–625/ton, while major producers like Mass Steel and FF Steel are pricing at $665–706/ton EXW.
Local producers gain ground in Iraq’s rebar market
With the customs reforms implemented in June 2025, Iraq’s rebar market has undergone a significant shift in trade dynamics. Local producers have gained a stronger foothold, and the domestic market has increasingly leaned on local sources.
Current rebar prices in Iraq range between $580–660/ton, reflecting the strong pricing influence of local manufacturers and a relatively balanced market, partly due to oversupply.
On the import side, updated and transparent export prices—especially for Turkish-origin rebar—are hard to obtain. The new customs policies, effective as of June 1, 2025, have notably slowed down steel exports to Iraq from Turkey and several other countries. As a result, external supply has significantly stalled, pushing imports into a secondary role.
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