Demand for both domestic and foreign products has improved somewhat in the Iraqi rebar market. Traders have now decided to mostly keep their stocks at the medium level since there has been still some demand from end-users, though not very high. As a result, domestic producer Erbil Steel has even tried to raise at least its list prices in view of increased Turkish rebar quotes, while prices for the Ukrainian material have dropped.
In the beginning of the week, official domestic prices for 12-25 mm rebar from Erbil Steel were about $650/t EXW, but now they are standing at $670/t EXW, by $20-30/t higher than in the middle of the month. However, market operators report that in the beginning of the week Erbil Steel’s material could be bought at as low as $620/t EXW ($635/t CPT Bagdad), and that from GK Steel – $625/t EXW ($640/t CPT Bagdad).
Prices for import rebar from Turkey have climbed in two weeks by $15/t, to $675-685/t CPT Baghdad ($635-645/t DAF Zakho), amid growing square billet costs. Ukrainian material from ArcelorMittal Kryvyi Rih is now available at $665-675/t CPT Baghdad (about $585 C&F Tartus), which is by $5/t lower than in the middle of the month. Rebar of the supplier ex traders’ stock in Baghdad is quoted at $680-685/t.
So, Iraqi buyers still prefer locally produced material on more acceptable prices as compared to foreign suppliers’ offers. However, since local mills are unable to fully meet the market requirements, many customers are buying Ukrainian rebar.
(Source: www.metalexpert-group.com)