The rebar import sector in Iraq remains slow due to several factors, such as the end of Ramadan, Eid al-Fitr celebration, the impact of the Coronavirus, as well as quarantine measures in the country.
However, rebar cargoes were purchased for June, from Iran, in the price range of $390-400/tonne CPT. Declined about $5/ton over the course of the month.
Bids from Türkiye have fallen by $10/ton since the end of April, reaching a price of $420-430/ton CPT Erbil for June. Ukrainian rebar was available at $385-390/ton FOB for late June shipments.
But I have rebar producers in Iraq feeling optimistic as available rebar prices ranged in the range of $490-550/ton ex-factory, increasing $10/ton over the course of the month.
It is noteworthy that an import duty of $90/ton is added to steel products imported into the country.