Steel prices in the Middle East and surrounding markets are generally showing a stable trend, while producers in Iran and Iraq were seen largely maintaining their current price levels. In Iraq, although rebar offers vary among producers, it is noteworthy that many producers are concentrated around the $515/mt EXW level. China’s billet and wire rod offers to Djibouti, meanwhile, showed that Asian-origin products continue to maintain their presence in trade along the East Africa and Red Sea routes.
Semi-finished steel prices remained stable in Iran
In Iran, billet is at $410/mt FOB, slab at $420/mt FOB, HBI at $250-255/mt FOB and DRI at $240/mt FOB. The fact that prices remain stable within these ranges indicates that current price levels in the Iranian semi-finished steel market are being maintained.
Offers in Iraq range between $515-630/mt
In Iraq, rebar prices range between $515-630/mt EXW depending on the producer, while it is noteworthy that many producers are offering at the $515/mt level. Darin Steel, Erbil Steel, Super Steel, Qaiwan Steel, Alpha Steel, Iraq Steel and Star Steel are concentrated at the $515/mt EXW level.
Van Steel’s price of $578/mt and FF Steel’s price of $575/mt remain above this group, while Mass Steel has the highest price among these producers at $630/mt. Despite price differences among producers, the Iraqi rebar market is generally seen maintaining its current levels.
China offers billet and wire rod to Djibouti
On the Chinese side, 150x150 mm billet for September 2026 shipment is being offered at $530/mt CFR Djibouti, while 130x130 mm billet is offered at $535/mt CFR Djibouti. The price of 5.5 mm wire rod stands at $585/mt CFR Djibouti.
China’s current offers to Djibouti indicate that Asian-origin products continue to maintain their commercial presence along the East Africa and Red Sea routes.
Prices in the UAE scrap market remain within a narrow range
In the United Arab Emirates, limited differences are seen in HMS 80:20 scrap prices. Processed scrap stands at $267/mt DAP Abu Dhabi, while buyer levels are at $267-270/mt, trader offers at $270-278/mt and market offers at $273-275/mt.
Current levels indicate that the UAE scrap market is continuing to move within a narrow range rather than experiencing a sharp price movement.
Regional price differences continue
Looking at other markets, Hadeed’s rebar price in Saudi Arabia stands at $746/mt EXW. In Syria, rebar is at $650/mt, while billet stands at $500/mt. In Egypt, rebar is at $580/mt FOB and HRC at $707/mt EXW.
Prices in the region vary significantly between countries. However, since the delivery terms of the products are not the same, price levels should be evaluated within the commercial conditions of each market rather than being directly compared.
Stable trend stands out in Iran and Iraq
In the current price outlook, the largely stable prices in key regional markets such as Iran and Iraq stand out. While semi-finished steel prices in Iran are maintaining their current levels, many rebar producers in Iraq are seen offering at the $515/mt EXW level.
China’s billet and wire rod offers to Djibouti and scrap prices in the UAE are also among the other key indicators of the current regional price outlook. Prices in Saudi Arabia, Syria and Egypt, meanwhile, demonstrate that price differences by country and product continue across the Middle East and surrounding markets.
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