According to market sources, Spanish rebar offers to the export markets have remained unchanged over the past two weeks in the range of €420-425/mt ($458-463/mt) FOB. Some Spanish producers state that their order books are full for May and June production, while other producers are still trying to conclude transactions at the upper end of the above price range. However, these prices are considered to be on the high side and are rejected by foreign buyers.
Meanwhile, Italian rebar offers to the export markets have remained unchanged over the past two weeks in the range of €420-425/mt ($458-463/mt) FOB for June shipment, while discounts of €2-3/mt ($2.2-3.3/mt) have been heard in the market. Although deals for Italian rebar have been heard in the Algerian market, demand in the country for Italian rebar is currently weak.
€1 = $1.09