According to market sources, Spanish
rebar offers to the export markets have decreased by €5/mt ($6/mt) over the past week to €305-310/mt ($345-350/mt) FOB, for November shipment. Spanish
rebar exporters state that demand for Spanish
rebar is still slack in the export markets.
Meanwhile, Italian
rebar offers to the export markets have also declined by €5/mt ($6/mt) in the same period to €305-310/mt ($345-350/mt) FOB, for November shipment.
Market sources state that transaction activity has slightly improved in Algeria, one of the most important
rebar export destinations of Spanish and Italian exporters, since Algerian buyers believe that price levels have hit the bottom. However, overall demand for Spanish and Italian
rebar in Algeria is still at low levels.
€1 = $1.13