Spanish producers have been offering Spanish origin 12 mm B500S rebar to the local market at around €560-580/mt ($842-872/mt) ex-works on actual weight basis with 30-day deferred payment, excluding VAT.
Despite the fact that demand is at low levels, the Spanish producers have increased their base prices by approximately €10/mt ($15/mt) this week with the help of the strong international market. The base prices in Spain are at €340-360/mt ($512-541/mt). Stockists, who had previously taken position at lower levels and have been hesitating due to the low demand, have been trying to sell at €30-40/mt ($45-60/mt) lower than the abovementioned levels. However, the intense activity being observed in non-European regions may cause the Spanish producers to increase their prices further.
On the exports side, the latest deals were concluded at €515-520/mt ($774-782/mt) FOB. However, the new offers are higher than these levels.