Mills in the Iberian Peninsula have started to hike their prices in parallel with the rising raw material prices and globally rising rebar prices. Currently, the sale price of Spanish origin B500S rebar of 12 mm diameter is at around €500/mt ($735/mt) ex-works.
Spanish mills, who have hiked their base prices by €20/mt ($29/mt) to €280/mt ($411/mt) over the last week, have announced that they will increase their base prices to €300/mt ($441/mt) soon. On the other hand, the price of rebar in Portugal is at around €470-480/mt ($691-706/mt) delivered to warehouse. The producers are trying to raise their prices to a level of €500/mt ($735/mt). Though the prices in the Iberian Peninsula have started to increase, the current price levels are not high enough to allow Egyptian or Turkish mills to export to this market.