The situation in the Iraqi rebar market is quite good. As there are a lot of construction projects, demand from end buyers remains healthy, which allows stockists to hold prices shigh. Amid dwindling stocks, customers continue to import the material, but only in small lots (some 1,000-2,000 t) since its quotations are falling.
So, prices for rebar from ArcelorMittal Kryvyi Rih have gone down by $50/t in two weeks and those for Turkish material (from Iskenderun) – by $30-35/t. Bookings of Turkish products have been reported at $805-810/t CPT Baghdad, but deals with larger suppliers have been done also at $815-820/t CPT Baghdad.
Amid favourable sentiment in the market, only some stockists have reduced offers on account of the drop in import quotations. As a result, in the stockist market the material from Ukraine is available by $90/t higher than from mills, while that from Turkey – by $45/t. Some of Iraqi traders are still ready to sell both Ukrainian and Turkish longs by $10-20/t lower.
Seeing the downward trend in the segment for import rebar, local producer Erbil Steel has been forced to cut prices by $30-40/t over the period under review.
(Source: www.metalexpert-group.com )