According to market sources, Spanish
rebar offers to the export markets have declined by €10/mt ($11/mt) during the past week to the range of €400-405/mt ($440-446/mt) FOB, for August shipment. Market sources state that an additional discount of €5/mt ($6/mt) is also available in negotiations. However, buyers believe that Spanish
rebar offers will fall further in the coming days and are reluctant to conclude new deals for now.
Meanwhile, Italian
rebar offers to the export markets have also declined by €10/mt ($11/mt) to the range of €400-405/mt ($440-446/mt) FOB during the past week, for August shipment. Market sources state that even in Algeria, one of the biggest export markets for Italian
rebar, no sales have been concluded lately. Market sources report that demand for Italian
rebar is at very low levels because low-priced Chinese
rebar offers dominate most of the target export markets.
€1 = $1.10