Political turbulence in Iraq prevents rebar demand from improving

The expected demand recovery has not yet materialized in the Iraqi domestic market due to the ongoing political turbulence in the region. Market players believe that finished steel demand will register improvement after the end of the current uncertainty. Meanwhile, billet demand is also expected to indicate a recovery when the construction of several rolling mills is completed.
 
In the meantime, in the Zaho region in northern Iraq rebar prices are standing at $660-675/mt ex-warehouse, while Turkish mills' in the Iskenderun region are offering rebar to Iraq at price levels of $600-615/mt ex-works, on actual basis.