Iraqi rebar market activity may increase

According to market sources, rebar offers from Turkey's Iskenderun region to the Iraqi market still stand in the range of $575-580/mt ex-works, indicating no changes since last week. Demand has remained weak in the country, while Iraqi buyers are aiming to conclude import rebar deals at $570/mt ex-works, though Turkish mills are reluctant to reduce their prices.
 
Turkish steelmakers have started to focus on their domestic market, where they can sell materials at higher levels due to the extremely tight availability, and rebar booking in the Iskenderun region are being concluded at $575/mt ex-works.
 
In the meantime, even though Iraqi buyers are not rushing to conclude any new deals because of certain economic problems, Turkish rebar offers are expected to gain acceptance and activity in the Iraqi market will likely increase in the next week due to the need for rebar in the market.