Lull continues in Iraqi rebar market amid hot weather and Ramadan

SteelOrbis has heard from market insiders that producers from the Iskenderun region of Turkey are still offering rebar to the Iraqi domestic market at the price level of $630/mt ex-works on actual weight basis and for shipments in August. Meanwhile, local traders' rebar offers stand at $705/mt ex-warehouse, indicating a neutral price trend since last week.
 
The Iraqi domestic market, which is stagnant amid the hot weather conditions and Ramadan, has been also struggling with liquidity shortages. In addition, ex-Iskenderun rebar offer on ex-works basis to Iraq no longer appear attractive, though producers in the Iskenderun region avoid giving offers below the level of $630/mt.