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Producers in Iraq are competing due to cheap Iranian rebar

Iraq rebar manufacturers have lowered the prices of their products in competition with Iranian rebar.

Producers in Iraq are competing due to cheap Iranian rebar

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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