Iraq manufacturers using electric arc furnaces are selling their rebar at $650-720/ton ex-works, with negotiable discounts of up to $20/ton. Factories making their own rebar from imported billets are trying to trade at $655-655/t ex-works, compared to $625-650/t ex-works three weeks ago. Basra rebar can be bought at $600 per ton ex-works, which has not changed for almost seven months.
Induction furnace rebar producers offered their rebar at $570 per ton ex-works, compared to $575-575 per ton ex-works in mid-May, but sources said actual sales were lower. Accordingly, some mills would trade at $560/ton ex-works for small quantities, but would agree to $555/ton ex-works for high tonnage orders.
Cheap Iranian rebar has lowered prices. Iraq producers have already cut prices to $555 per ton at the mill door, and the difference with Iranian rebar is still $30 per ton.
Iranian rebar is being offered by traders at around $430-450 per ton ex-works, down from $475-455 per ton ex-works three weeks ago. One source has reported that a total of at least 10,000 tons of rebar from Iran has been sold to Iraq by various Iranian suppliers.
Turkish products can be booked at $585-590 per ton at the Scandron factory door, compared to the previous price of $585-600 per ton at the factory door.
Baghdad traders are offering normal and high-grade Iranian rebar at $515 and $600 per ton, respectively, compared to the previous prices of $520 and $610. Turkish rebar may also be bought at a price of $770 per ton, which was previously sold at $750. In Erbil, Iranian rebar can be traded at a price of 525 dollars per ton, and Turkish product at a price of 770 dollars per ton.
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