High domestic
rebar prices in
Morocco have caused local buyers to shift their attention towards imports.
Since domestic
rebar prices in
Morocco are currently standing as high as $765/mt ex-works, exclusive of 20 percent VAT,
Morocco has started to import
rebar from
Europe, despite the strict import regime of the country.
Prolonged customs operations and warehouse costs are some factors which complicate exports to the Moroccan market. However, high domestic prices coupled with more competitive European
rebar offers due to the weaker euro have caused increased interest in European offers among Moroccan buyers.
Currently, mainstream
rebar offers of European producers to
Morocco are standing at $505-515/mt ($646-659/mt) FOB. Besides, SteelOrbis has learned that a recent
rebar cargo from
Europe to
Morocco have been transacted at €500/mt ($640/mt) FOB.
€ 1= $1.28