According to market sources, Spanish rebar offers to the export markets have remained in the range of €410-415/mt ($455-461/mt) FOB over the past week, for August shipment. However, market sources state that buyers consider this prices range to be on the high side and there are rumors some ex-Spain rebar deals have been concluded at €405/mt ($450/mt) FOB. Also, demand for Spanish rebar in the export markets is still weak due to Ramadan and the ongoing political turbulence in the Middle East.
Meanwhile, Italian rebar offers to the export markets have also remained in the range of €410-415/mt ($455-461/mt) FOB during the past week, for August shipment. Market sources state that demand for Italian rebar is at low levels in all export markets.
€1 = $1.11