Stagnancy in Iraqi market drags rebar prices down

Sluggishness still continues in the Iraqi rebar market due to hot weather conditions and start of Ramadan. Rebar prices in the domestic market which has remained silent since last week have declined to the level of $705/mt ex-warehouse.
 
On the other hand Turkish rebar offers from the Iskenderun region to Iraq has not shown a significant change and still stand at $630/mt ex-works. If the current market conditions continue in the next days, imported rebar volume from the Iskenderun region may decrease and this situation may also put downward pressure on the local market prices of this region.